Extreme Networks (NASDAQ:EXTR) Hits New 1-Year High – Here’s What Happened

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $18.43 and last traded at $18.41, with a volume of 181949 shares changing hands. The stock had previously closed at $18.17.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EXTR shares. Craig Hallum raised their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. B. Riley raised their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Stock Up 1.9 %

The stock has a fifty day moving average price of $15.97 and a 200-day moving average price of $14.52. The firm has a market cap of $2.45 billion, a PE ratio of -19.09, a PEG ratio of 3.87 and a beta of 1.76. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Insider Buying and Selling

In other news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 $5,970,995.58. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,450 shares of company stock valued at $1,390,490. Company insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently added to or reduced their stakes in EXTR. Quarry LP acquired a new stake in shares of Extreme Networks during the third quarter valued at about $26,000. GAMMA Investing LLC grew its stake in Extreme Networks by 109.5% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 purchasing an additional 4,709 shares during the last quarter. KBC Group NV raised its position in shares of Extreme Networks by 54.3% in the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks during the 2nd quarter valued at approximately $148,000. Institutional investors and hedge funds 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.