Extreme Networks (NASDAQ:EXTR) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a report issued on Saturday.

EXTR has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. Craig Hallum increased their price target on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, B. Riley raised their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Price Performance

Shares of EXTR stock opened at $16.58 on Friday. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -17.09, a PEG ratio of 3.65 and a beta of 1.77. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $18.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The stock has a 50-day moving average price of $14.98 and a 200 day moving average price of $13.57.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,754,637.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the 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 sale, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,175 shares of company stock valued at $1,763,279. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in EXTR. Acadian Asset Management LLC bought a new stake in shares of Extreme Networks in the first quarter valued at about $27,000. GAMMA Investing LLC lifted its stake 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. Allspring Global Investments Holdings LLC boosted its position in Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after acquiring an additional 4,709 shares during the last quarter. KBC Group NV boosted its position in Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock worth $75,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Gladius Capital Management LP bought a new position in shares of Extreme Networks during the 2nd quarter worth approximately $90,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.