Extreme Networks (NASDAQ:EXTR) Raised to “Buy” at StockNews.com

Extreme Networks (NASDAQ:EXTR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

EXTR has been the subject of a number of other reports. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. B. Riley upped their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Up 1.8 %

EXTR traded up $0.32 during trading on Thursday, reaching $17.72. 688,628 shares of the company’s stock were exchanged, compared to its average volume of 1,763,551. The firm has a fifty day moving average price of $16.20 and a two-hundred day moving average price of $14.66. The stock has a market capitalization of $2.34 billion, a PE ratio of -18.27, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76. Extreme Networks has a one year low of $10.49 and a one year high of $19.24. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the transaction, the director now directly owns 371,793 shares in the company, valued at $5,970,995.58. The trade was a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,450 shares of company stock worth $1,390,490. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently bought and sold shares of EXTR. Rubric Capital Management LP lifted its position in shares of Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after buying an additional 1,804,744 shares during the last quarter. State Street Corp lifted its holdings in Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after purchasing an additional 49,905 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Extreme Networks by 318.7% during the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Extreme Networks during the second quarter valued at about $25,409,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Extreme Networks by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after purchasing an additional 8,169 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

About Extreme Networks

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.