Extreme Networks (NASDAQ:EXTR) Shares Down 3%

Extreme Networks, Inc. (NASDAQ:EXTRGet Rating) traded down 3% on Friday . The stock traded as low as $17.53 and last traded at $18.09. 26,996 shares changed hands during trading, a decline of 97% from the average session volume of 954,035 shares. The stock had previously closed at $18.64.

Wall Street Analyst Weigh In

EXTR has been the topic of several recent analyst reports. Lake Street Capital boosted their target price on Extreme Networks from $15.00 to $19.00 in a report on Friday, October 28th. Needham & Company LLC increased their target price on Extreme Networks from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, January 4th. StockNews.com initiated coverage on Extreme Networks in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Cowen increased their price objective on shares of Extreme Networks to $18.00 in a report on Tuesday, November 1st. Finally, Rosenblatt Securities boosted their target price on shares of Extreme Networks from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.17.

Extreme Networks Stock Performance

The firm has a fifty day moving average of $19.19 and a 200-day moving average of $15.60. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 2.09. The firm has a market cap of $2.48 billion, a P/E ratio of 57.21 and a beta of 2.10.

Extreme Networks (NASDAQ:EXTRGet Rating) last released its earnings results on Thursday, October 27th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $297.69 million for the quarter, compared to the consensus estimate of $284.70 million. Extreme Networks had a net margin of 3.87% and a return on equity of 69.86%. Research analysts predict that Extreme Networks, Inc. will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 2,130 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $17.00, for a total value of $36,210.00. Following the completion of the sale, the chief executive officer now owns 1,006,629 shares in the company, valued at $17,112,693. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Extreme Networks news, CEO Edward Meyercord sold 2,130 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $17.00, for a total value of $36,210.00. Following the completion of the sale, the chief executive officer now owns 1,006,629 shares of the company’s stock, valued at $17,112,693. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ingrid Burton sold 9,000 shares of Extreme Networks stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $20.35, for a total transaction of $183,150.00. Following the transaction, the director now directly owns 63,243 shares in the company, valued at $1,286,995.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,858 shares of company stock valued at $829,528. 3.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in Extreme Networks by 23.4% in the first quarter. JPMorgan Chase & Co. now owns 879,703 shares of the technology company’s stock valued at $10,742,000 after buying an additional 166,540 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Extreme Networks by 55.3% in the 1st quarter. MetLife Investment Management LLC now owns 66,855 shares of the technology company’s stock worth $816,000 after purchasing an additional 23,810 shares during the period. Rhumbline Advisers increased its holdings in Extreme Networks by 5.2% during the 1st quarter. Rhumbline Advisers now owns 318,117 shares of the technology company’s stock worth $3,884,000 after purchasing an additional 15,816 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Extreme Networks by 13.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 111,394 shares of the technology company’s stock valued at $1,360,000 after purchasing an additional 13,231 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Extreme Networks by 1.6% in the first quarter. BlackRock Inc. now owns 17,359,864 shares of the technology company’s stock valued at $211,964,000 after purchasing an additional 281,710 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

About Extreme Networks

(Get Rating)

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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