Extreme Networks (NASDAQ:EXTR) Reaches New 52-Week High – What’s Next?

Extreme Networks, Inc. (NASDAQ:EXTR) reached a new 52-week high on Monday . The stock traded as high as $18.43 and last traded at $18.41, with a volume of 181949 shares trading hands. The stock had previously closed at $18.17.

Analyst Ratings Changes

Several analysts have recently issued reports on EXTR shares. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Craig Hallum lifted their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Down 4.0 %

The business has a 50 day moving average of $16.11 and a 200 day moving average of $14.62. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -17.94, a price-to-earnings-growth ratio of 3.87 and a beta of 1.76. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $16.70, for a total transaction of $83,500.00. Following the completion of the transaction, the director now owns 366,793 shares in the company, valued at $6,125,443.10. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,450 shares of company stock worth $1,390,490 in the last 90 days. 3.70% of the stock is owned by company insiders.

Institutional Trading of Extreme Networks

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Extreme Networks during the third quarter worth $26,000. GAMMA Investing LLC boosted its position in Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after acquiring an additional 4,709 shares during the last quarter. KBC Group NV raised its holdings in shares of Extreme Networks by 54.3% in the third quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after purchasing an additional 1,745 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks in the second quarter valued at approximately $148,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.