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

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) has received an average rating of "Moderate Buy" from the five analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.00.

Several research firms have recently weighed in on EXTR. 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 research report on Thursday, October 31st. StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 target price on shares of Extreme Networks in a report on Wednesday, November 6th. Finally, B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st.

Extreme Networks Stock Up 0.4 %

Shares of NASDAQ:EXTR traded up $0.07 during midday trading on Friday, reaching $16.68. The company had a trading volume of 426,404 shares, compared to its average volume of 516,252. The stock has a market capitalization of $2.20 billion, a P/E ratio of -17.20, a PEG ratio of 3.87 and a beta of 1.75. The stock's fifty day moving average price is $16.72 and its 200-day moving average price is $15.07. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks has a one year low of $10.49 and a one year high of $19.24.

Insiders Place Their Bets

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $16.70, for a total value of $83,500.00. Following the sale, the director now directly owns 366,793 shares of the company's stock, valued at $6,125,443.10. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 35,725 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at approximately $21,667,734.88. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,725 shares of company stock valued at $863,546 over the last quarter. Insiders own 3.70% of the company's stock.

Institutional Trading of Extreme Networks

A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock valued at $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Extreme Networks in the second quarter worth about $25,409,000. Rubric Capital Management LP grew its position in Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company's stock valued at $70,676,000 after buying an additional 1,804,744 shares in the last quarter. Portolan Capital Management LLC increased its stake in Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock valued at $15,944,000 after buying an additional 700,724 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Extreme Networks by 265.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company's stock worth $9,839,000 after buying an additional 531,500 shares in the last quarter. 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.