Extreme Networks, Inc. (NASDAQ:EXTR) Director Raj Khanna Sells 10,000 Shares

Extreme Networks, Inc. (NASDAQ:EXTR) Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Extreme Networks Stock Up 1.1 %

Shares of NASDAQ:EXTR traded up $0.16 during trading on Friday, reaching $15.09. 1,441,871 shares of the stock traded hands, compared to its average volume of 1,870,505. The stock has a market cap of $1.99 billion, a P/E ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The stock has a 50-day moving average of $14.88 and a two-hundred day moving average of $13.29. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $18.77.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was down 29.5% on a year-over-year basis. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several research reports. Rosenblatt Securities increased their price target on shares of Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. B. Riley boosted their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Craig Hallum raised their price objective on Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently bought and sold shares of EXTR. Acadian Asset Management LLC purchased a new stake in shares of Extreme Networks during the 1st quarter valued at about $27,000. GAMMA Investing LLC lifted its position in Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the last quarter. Gladius Capital Management LP bought a new stake in Extreme Networks in the 2nd quarter worth approximately $90,000. Finally, Hennessy Advisors Inc. purchased a new stake in Extreme Networks during the 2nd quarter valued at $148,000. 91.05% of the stock is currently owned by institutional investors.

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.