Extreme Networks, Inc. (NASDAQ:EXTR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several brokerages recently issued reports on EXTR. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. B. Riley upped their price objective 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, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th.

Extreme Networks Price Performance

EXTR opened at $16.61 on Friday. The company’s 50-day simple moving average is $16.67 and its two-hundred day simple moving average is $15.04. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The stock has a market capitalization of $2.19 billion, a P/E ratio of -17.12, a P/E/G ratio of 3.87 and a beta of 1.76. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $19.24.

Insiders Place Their Bets

In related news, 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 value 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. This represents a 1.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 55,725 shares of company stock worth $863,546 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently modified their holdings of EXTR. SkyView Investment Advisors LLC grew its stake in Extreme Networks by 8.7% during the third quarter. SkyView Investment Advisors LLC now owns 101,439 shares of the technology company’s stock valued at $1,525,000 after acquiring an additional 8,131 shares in the last quarter. Barclays PLC grew its position in shares of Extreme Networks by 369.8% during the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after purchasing an additional 171,500 shares in the last quarter. State Street Corp boosted its stake 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 buying an additional 49,905 shares during the last quarter. Quarry LP purchased a new position in Extreme Networks during the 3rd quarter valued at approximately $26,000. Finally, Portolan Capital Management LLC increased its stake in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after acquiring an additional 700,724 shares during the last quarter. 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.