Extreme Networks (NASDAQ:EXTR) Hits New 12-Month High - Should You Buy?

Shares of Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $18.43 and last traded at $18.41, with a volume of 181949 shares changing hands. The stock had previously closed at $18.17.

Analyst Upgrades and Downgrades

EXTR has been the subject of several analyst reports. StockNews.com downgraded Extreme Networks from a "buy" rating to a "hold" rating in a research note on Monday, November 25th. Craig Hallum boosted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. 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 research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Extreme Networks Stock Up 1.9 %

The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -19.09, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76. The firm's 50-day simple moving average is $15.97 and its two-hundred day simple moving average is $14.52.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the transaction, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated 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 a total of 91,450 shares of company stock worth $1,390,490 in the last quarter. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Extreme Networks

A number of large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Extreme Networks during the third quarter valued at $651,000. Lisanti Capital Growth LLC boosted its stake in shares of Extreme Networks by 61.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 195,490 shares of the technology company's stock worth $2,938,000 after purchasing an additional 74,080 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Extreme Networks by 373.4% during the second quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock worth $14,348,000 after buying an additional 841,395 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of Extreme Networks by 491.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 333,644 shares of the technology company's stock valued at $4,488,000 after buying an additional 277,196 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of Extreme Networks by 38.2% during the second quarter. Texas Permanent School Fund Corp now owns 155,699 shares of the technology company's stock valued at $2,094,000 after buying an additional 43,036 shares during the period. 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.

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