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 research note released on Monday.

A number of other analysts have also issued reports on EXTR. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, B. Riley increased their price objective on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $16.49 on Monday. The company has a market capitalization of $2.18 billion, a PE ratio of -17.11, a price-to-earnings-growth ratio of 3.49 and a beta of 1.77. 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 fifty day moving average of $15.28 and a 200-day moving average of $13.87. Extreme Networks has a one year low of $10.49 and a one year high of $18.77.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction 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. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,175 shares of company stock worth $1,763,279. Corporate insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Large investors have recently bought and sold shares of the company. SkyView Investment Advisors LLC lifted its holdings 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 worth $1,525,000 after acquiring an additional 8,131 shares in the last quarter. Barclays PLC lifted its position in Extreme Networks by 369.8% in the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after acquiring an additional 171,500 shares in the last quarter. State Street Corp raised its stake in shares of Extreme Networks by 1.0% in the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock valued at $77,164,000 after purchasing an additional 49,905 shares during the period. Quarry LP bought a new position in shares of Extreme Networks during the 3rd quarter worth approximately $26,000. Finally, Portolan Capital Management LLC raised 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 purchasing an additional 700,724 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

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.