Several other brokerages have also commented on EXTR. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a report on Tuesday, August 13th. ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Lake Street Capital assumed coverage on Extreme Networks in a report on Monday, July 29th. They issued a “buy” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $10.33.
Extreme Networks stock opened at $7.35 on Tuesday. The firm has a market cap of $876.38 million, a price-to-earnings ratio of 56.54 and a beta of 1.61. The stock has a fifty day simple moving average of $7.29 and a two-hundred day simple moving average of $7.10. Extreme Networks has a 12 month low of $4.81 and a 12 month high of $8.59. The company has a current ratio of 1.24, a quick ratio of 1.06 and a debt-to-equity ratio of 1.46.
In related news, insider Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.22, for a total transaction of $822,000.00. Following the transaction, the insider now directly owns 482,416 shares in the company, valued at $3,965,459.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.45% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. purchased a new position in Extreme Networks during the second quarter valued at $1,338,000. Nuveen Asset Management LLC purchased a new position in Extreme Networks during the second quarter valued at $17,720,000. D. E. Shaw & Co. Inc. lifted its position in Extreme Networks by 44.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 4,754,084 shares of the technology company’s stock valued at $30,759,000 after purchasing an additional 1,468,606 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Extreme Networks during the second quarter valued at $65,000. Finally, AQR Capital Management LLC lifted its position in Extreme Networks by 104.0% during the second quarter. AQR Capital Management LLC now owns 970,116 shares of the technology company’s stock valued at $6,277,000 after purchasing an additional 494,664 shares in the last quarter. Institutional investors own 80.65% of the company’s stock.
Extreme Networks Company Profile
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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