Extreme Networks (NASDAQ:EXTR) Stock Rating Lowered by StockNews.com

Extreme Networks (NASDAQ:EXTR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other brokerages have also recently issued reports on EXTR. Craig Hallum lifted their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, B. Riley raised their price objective 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Extreme Networks Price Performance

NASDAQ:EXTR opened at $16.94 on Monday. 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 business’s 50-day moving average price is $15.32 and its 200 day moving average price is $13.91. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $18.77. The firm has a market cap of $2.24 billion, a P/E ratio of -17.00, a PEG ratio of 3.49 and a beta of 1.77.

Insider Buying and Selling

In other news, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the sale, the director now directly owns 366,793 shares of the company’s stock, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,175 shares of company stock valued at $1,927,079. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Extreme Networks in the third quarter worth $26,000. GAMMA Investing LLC increased its position in Extreme Networks by 109.5% in the 3rd 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. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks during the 1st quarter worth about $27,000. KBC Group NV lifted its holdings in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Extreme Networks by 1,635.1% during 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. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.