Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) have received a consensus rating of "Moderate Buy" from the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.00.

A number of equities research analysts have recently issued reports on the stock. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research note 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. Needham & Company LLC reiterated a "buy" rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. StockNews.com cut shares of Extreme Networks from a "buy" rating to a "hold" rating in a research report on Saturday, November 9th. Finally, B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 31st.

Insider Buying and Selling

In related news, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the transaction, the director now directly owns 228,733 shares in the company, valued at $3,780,956.49. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at approximately $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock worth $1,763,279 in the last quarter. 3.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently made changes to their positions in EXTR. SG Americas Securities LLC boosted its position in shares of Extreme Networks by 33.1% in the 1st quarter. SG Americas Securities LLC now owns 44,586 shares of the technology company's stock worth $515,000 after buying an additional 11,077 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Extreme Networks by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 77,836 shares of the technology company's stock valued at $898,000 after acquiring an additional 2,375 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Extreme Networks by 7.3% during the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company's stock valued at $294,000 after acquiring an additional 1,741 shares in the last quarter. Entropy Technologies LP purchased a new stake in Extreme Networks during the 1st quarter worth approximately $268,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Extreme Networks by 50.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 54,244 shares of the technology company's stock valued at $626,000 after purchasing an additional 18,206 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Extreme Networks stock traded down $0.55 during midday trading on Thursday, reaching $16.10. 935,285 shares of the stock were exchanged, compared to its average volume of 1,853,270. The company's fifty day moving average is $15.06 and its 200-day moving average is $13.63. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $18.77. The firm has a market cap of $2.13 billion, a PE ratio of -16.74, a PEG ratio of 3.61 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.

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.