Extreme Networks (NASDAQ:EXTR) Shares Gap Up – Still a Buy?

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) gapped up prior to trading on Wednesday . The stock had previously closed at $18.12, but opened at $18.90. Extreme Networks shares last traded at $18.53, with a volume of 202,910 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on EXTR shares. StockNews.com cut Extreme Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. B. Riley raised their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Stock Up 3.1 %

The firm’s 50-day moving average is $16.11 and its two-hundred day moving average is $14.62. The stock has a market cap of $2.47 billion, a P/E ratio of -18.68, a PEG ratio of 3.87 and a beta of 1.76. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares in the company, valued at $6,125,443.10. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,450 shares of company stock valued at $1,390,490. 3.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Andina Capital Management LLC boosted its stake in Extreme Networks by 4.1% in the 3rd quarter. Andina Capital Management LLC now owns 20,405 shares of the technology company’s stock valued at $307,000 after purchasing an additional 795 shares during the period. GAMMA Investing LLC raised its holdings in Extreme Networks by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Extreme Networks by 2.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock valued at $1,065,000 after acquiring an additional 1,541 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Extreme Networks by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Extreme Networks in the third quarter worth $26,000. 91.05% of the stock is owned by institutional investors.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.