Extreme Networks (NASDAQ:EXTR) Downgraded by StockNews.com to "Hold"

Extreme Networks (NASDAQ:EXTR - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other research analysts have also recently issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. Needham & Company LLC reiterated a "buy" rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, B. Riley upped their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Extreme Networks Price Performance

Extreme Networks stock traded up $0.46 during trading hours on Monday, hitting $16.49. 1,583,598 shares of the company traded hands, compared to its average volume of 1,825,687. The firm has a market cap of $2.18 billion, a P/E ratio of -17.11, a P/E/G ratio of 3.49 and a beta of 1.77. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33. The firm's 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $13.87. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77.

Insiders Place Their Bets

In related news, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the 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 in the company, 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 sold a total of 117,175 shares of company stock worth $1,763,279 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC boosted 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 valued at $1,525,000 after acquiring an additional 8,131 shares during the period. Barclays PLC lifted its position in shares of Extreme Networks by 369.8% during the 3rd quarter. Barclays PLC now owns 217,875 shares of the technology company's stock worth $3,274,000 after purchasing an additional 171,500 shares during the last quarter. State Street Corp boosted its stake in Extreme Networks by 1.0% during 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 acquired a new stake in Extreme Networks in the 3rd quarter valued at approximately $26,000. Finally, Portolan Capital Management LLC increased its position in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock worth $15,944,000 after buying an additional 700,724 shares during the period. 91.05% of the stock is owned by institutional investors.

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.