Extreme Networks, Inc. (NASDAQ:EXTR) Director Sells $165,300.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) Director Raj Khanna sold 10,000 shares of the 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 completion of the sale, the director now directly owns 228,733 shares in the company, valued at approximately $3,780,956.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Extreme Networks Price Performance

Shares of NASDAQ EXTR traded up $0.16 during midday trading on Friday, reaching $15.09. The company's stock had a trading volume of 1,441,937 shares, compared to its average volume of 1,870,505. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The company has a 50 day moving average price of $14.88 and a 200 day moving average price of $13.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million for the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. Extreme Networks's revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company's stock worth $175,191,000 after purchasing an additional 2,191,181 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of Extreme Networks by 52.3% during the second 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. William Blair Investment Management LLC acquired a new position in Extreme Networks during the second quarter valued at $25,409,000. Victory Capital Management Inc. lifted its stake in Extreme Networks by 373.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company's stock worth $14,348,000 after acquiring an additional 841,395 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Extreme Networks by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company's stock worth $14,192,000 after acquiring an additional 3,572 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. B. Riley boosted their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC restated a "buy" rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities increased their price objective on shares of Extreme Networks from $17.00 to $21.00 and gave the company a "buy" rating in a report on Thursday. Finally, StockNews.com raised Extreme Networks from a "hold" rating to a "buy" rating in a report on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

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.