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

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

Other analysts have also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 target price on shares of Extreme Networks in a research report on Wednesday, November 6th. Craig Hallum increased their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Finally, B. Riley upped their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Trading Up 2.4 %

Shares of Extreme Networks stock opened at $16.03 on Monday. 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 stock has a market capitalization of $2.12 billion, a PE ratio of -16.53, a P/E/G ratio of 3.41 and a beta of 1.77. Extreme Networks has a 1-year low of $10.49 and a 1-year high of $18.77. The company’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $13.84.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,175 shares of company stock valued at $1,763,279 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 16.9% in 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 during the period. Acadian Asset Management LLC purchased a new position in Extreme Networks during the first quarter worth $27,000. CANADA LIFE ASSURANCE Co increased its position in Extreme Networks by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 147,269 shares of the technology company’s stock valued at $1,697,000 after acquiring an additional 7,326 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Extreme Networks by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 692,617 shares of the technology company’s stock valued at $7,994,000 after acquiring an additional 3,869 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in shares of Extreme Networks by 45.8% in the first quarter. SkyView Investment Advisors LLC now owns 75,798 shares of the technology company’s stock valued at $875,000 after acquiring an additional 23,812 shares during the period. 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.