Extreme Networks, Inc. (NASDAQ:EXTR) Receives $32.83 Consensus PT from Analysts

Extreme Networks, Inc. (NASDAQ:EXTR) has been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.8333.

EXTR has been the subject of a number of research reports. Needham & Company LLC raised their price target on shares of Extreme Networks from $26.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Lake Street Capital increased their price objective on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Bank of America upped their price target on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th.

Extreme Networks Trading Down 0.5%

Shares of NASDAQ EXTR opened at $29.98 on Friday. Extreme Networks has a 1-year low of $13.48 and a 1-year high of $33.73. The company has a 50-day moving average of $30.27 and a two-hundred day moving average of $21.62. The company has a market cap of $3.92 billion, a PE ratio of 249.83, a P/E/G ratio of 1.85 and a beta of 1.79. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89.

Insider Buying and Selling at Extreme Networks

In related news, insider Katayoun Motiey sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the sale, the insider directly owned 120,834 shares of the company’s stock, valued at $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,621,902 shares in the company, valued at approximately $47,359,538.40. The trade was a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 372,182 shares of company stock worth $10,415,705 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Extreme Networks during the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. boosted its position in shares of Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares in the last quarter. CWM LLC boosted its position in shares of Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares in the last quarter. Quarry LP boosted its position in shares of Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,118 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock valued at $54,000 after buying an additional 1,861 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.