Extreme Networks (NASDAQ:EXTR) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a research note released on Monday morning.

Other research analysts have also issued reports about the stock. Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum boosted their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. B. Riley raised their price target on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 2.9 %

Shares of Extreme Networks stock opened at $16.49 on Monday. The company has a market cap of $2.18 billion, a P/E ratio of -17.11, a PEG ratio of 3.49 and a beta of 1.77. The firm has a fifty day moving average of $15.28 and a two-hundred day moving average of $13.87. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks has a one year low of $10.49 and a one year high of $18.77.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now directly owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,175 shares of company stock valued at $1,763,279 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Andina Capital Management LLC boosted its holdings in shares of Extreme Networks by 3.8% in the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock valued at $264,000 after buying an additional 719 shares during the period. GAMMA Investing LLC lifted its position 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 purchasing an additional 1,035 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Extreme Networks by 2.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 70,841 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 1,541 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Extreme Networks by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after purchasing an additional 1,600 shares during the period. Finally, Quarry LP bought a new stake in shares of Extreme Networks during the third quarter valued at approximately $26,000. Institutional investors own 91.05% of the company’s stock.

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.