Extreme Networks (NASDAQ:EXTR) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Extreme Networks (NASDAQ:EXTR - Free Report) from a hold rating to a buy rating in a research report released on Sunday.

Several other equities analysts also recently weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. B. Riley increased their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum boosted their target price on Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Extreme Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Extreme Networks Stock Performance

EXTR traded down $0.49 during midday trading on Friday, hitting $15.61. 814,978 shares of the company traded hands, compared to its average volume of 1,394,832. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $18.77. 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 company's 50-day moving average is $15.14 and its 200 day moving average is $13.69. The firm has a market capitalization of $2.06 billion, a PE ratio of -16.09, a price-to-earnings-growth ratio of 3.40 and a beta of 1.77.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares of the company's stock, valued at $21,754,637.56. This represents a 2.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares of the company's stock, valued at $3,780,956.49. This represents a 4.19 % 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 over the last quarter. 3.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Extreme Networks in the 3rd quarter valued at $26,000. Acadian Asset Management LLC purchased a new position in Extreme Networks in the first quarter valued at $27,000. GAMMA Investing LLC lifted its stake in Extreme Networks by 109.5% during the third 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 during the last quarter. Allspring Global Investments Holdings LLC grew its position 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. Finally, KBC Group NV grew its holdings in shares of Extreme Networks by 54.3% during the third quarter. KBC Group NV now owns 4,959 shares of the technology company's stock worth $75,000 after purchasing an additional 1,745 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other 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.