Extreme Networks (NASDAQ:EXTR) Stock Rating Upgraded by StockNews.com

Extreme Networks (NASDAQ:EXTR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other analysts have also recently issued reports on EXTR. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, Craig Hallum boosted 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Price Performance

EXTR stock opened at $17.74 on Thursday. The stock has a market cap of $2.34 billion, a PE ratio of -18.29, a P/E/G ratio of 3.87 and a beta of 1.76. The company has a 50-day moving average price of $16.25 and a 200 day moving average price of $14.70. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the sale, the director now owns 228,733 shares of the company’s stock, valued at $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. Insiders sold 91,450 shares of company stock valued at $1,390,490 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Extreme Networks

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in Extreme Networks during the 3rd quarter worth about $26,000. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Extreme Networks by 1,635.1% during the second 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 period. KBC Group NV boosted its position in Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Extreme Networks in the 2nd quarter worth approximately $148,000. 91.05% of the stock is 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.