Shares of Extreme Networks, Inc. (NASDAQ:EXTR – Get Rating) traded up 6.1% during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $23.00 to $23.50. Needham & Company LLC currently has a buy rating on the stock. Extreme Networks traded as high as $17.69 and last traded at $17.50. 1,695,405 shares changed hands during trading, an increase of 3% from the average session volume of 1,642,583 shares. The stock had previously closed at $16.50.
Several other equity research analysts also recently weighed in on the company. TheStreet upgraded Extreme Networks from a “c+” rating to a “b” rating in a report on Thursday, October 27th. Lake Street Capital lifted their price objective on Extreme Networks from $15.00 to $19.00 in a report on Friday, October 28th. StockNews.com started coverage on shares of Extreme Networks in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Rosenblatt Securities lifted their price objective on shares of Extreme Networks from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, October 28th. Finally, B. Riley raised their price objective on Extreme Networks from $18.00 to $23.00 in a research report on Friday, October 28th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $21.25.
Insider Activity at Extreme Networks
In other Extreme Networks news, CFO Remi Thomas sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $18.08, for a total value of $180,800.00. Following the completion of the transaction, the chief financial officer now owns 116,342 shares in the company, valued at $2,103,463.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Remi Thomas sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $18.08, for a total transaction of $180,800.00. Following the completion of the sale, the chief financial officer now owns 116,342 shares of the company’s stock, valued at $2,103,463.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 4,200 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $19.00, for a total transaction of $79,800.00. Following the completion of the transaction, the chief executive officer now directly owns 904,559 shares in the company, valued at $17,186,621. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,356 shares of company stock worth $848,494. 3.16% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in EXTR. Altshuler Shaham Ltd acquired a new stake in Extreme Networks during the third quarter worth $31,000. Quadrant Capital Group LLC increased its stake in Extreme Networks by 29.8% during the third quarter. Quadrant Capital Group LLC now owns 2,429 shares of the technology company’s stock worth $32,000 after purchasing an additional 558 shares during the period. Captrust Financial Advisors lifted its position in shares of Extreme Networks by 389.4% during the first quarter. Captrust Financial Advisors now owns 4,463 shares of the technology company’s stock worth $54,000 after purchasing an additional 3,551 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Extreme Networks in the second quarter valued at approximately $58,000. Finally, Lazard Asset Management LLC lifted its holdings in Extreme Networks by 3,060.3% during the 2nd quarter. Lazard Asset Management LLC now owns 7,332 shares of the technology company’s stock worth $65,000 after buying an additional 7,100 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.
Extreme Networks Stock Up 6.5 %
The business has a 50-day moving average price of $19.18 and a two-hundred day moving average price of $15.80. 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 $2.31 billion, a PE ratio of 53.24 and a beta of 2.10.
Extreme Networks (NASDAQ:EXTR – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The technology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $297.69 million during the quarter, compared to analysts’ expectations of $284.70 million. Extreme Networks had a net margin of 3.87% and a return on equity of 69.86%. On average, equity research analysts expect that Extreme Networks, Inc. will post 0.63 EPS for the current year.
Extreme Networks Company Profile
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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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