Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Rating of “Moderate Buy” from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has received a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.00.

EXTR has been the subject of several research reports. Craig Hallum lifted their target price on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research note on Wednesday, November 6th.

Extreme Networks Price Performance

Shares of EXTR opened at $16.25 on Tuesday. The firm has a 50-day simple moving average of $17.14 and a two-hundred day simple moving average of $15.56. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $19.24. The stock has a market cap of $2.15 billion, a PE ratio of -16.75, a P/E/G ratio of 3.76 and a beta of 1.75.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the transaction, the director now owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,725 shares of company stock valued at $863,546. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently bought and sold shares of EXTR. State Street Corp increased its position in shares of Extreme Networks by 1.0% during the third quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after purchasing an additional 49,905 shares in the last quarter. Victory Capital Management Inc. increased its position 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 worth $67,124,000 after buying an additional 3,399,288 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $17,429,000 after buying an additional 8,169 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Extreme Networks by 194.6% in the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after acquiring an additional 700,724 shares during the period. Finally, Clearbridge Investments LLC grew its position in shares of Extreme Networks by 42.9% during the second quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock worth $11,507,000 after acquiring an additional 256,765 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other 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.