Brokerages Set Extreme Networks, Inc. (NASDAQ:EXTR) Target Price at $19.00

Extreme Networks, Inc. (NASDAQ:EXTR) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.00.

EXTR has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Craig Hallum boosted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Extreme Networks Stock Up 1.5 %

Shares of NASDAQ:EXTR opened at $17.09 on Friday. The company’s fifty day moving average is $16.77 and its 200-day moving average is $15.14. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $19.24. The company has a market capitalization of $2.26 billion, a PE ratio of -17.62, a P/E/G ratio of 3.87 and a beta of 1.75.

Insider Activity at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at $21,667,734.88. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Carinalli sold 5,000 shares of Extreme Networks stock in a transaction that occurred 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 sale, the director now owns 371,793 shares in the company, 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 ninety days, insiders have sold 55,725 shares of company stock valued at $863,546. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Extreme Networks during the third quarter worth about $26,000. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 109.5% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Extreme Networks by 1,635.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after buying an additional 4,709 shares during the last quarter. KBC Group NV boosted its holdings 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 buying an additional 1,745 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Extreme Networks in the third quarter valued at $179,000. 91.05% of the stock is owned by institutional investors.

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.