Extreme Networks, Inc (NASDAQ:EXTR) Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the sale, the director now directly owns 99,523 shares in the company, valued at approximately $1,374,412.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Extreme Networks, Inc (NASDAQ:EXTR) traded down $0.20 during mid-day trading on Wednesday, reaching $12.72. The company’s stock had a trading volume of 1,192,027 shares, compared to its average volume of 1,571,877. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 1.11. Extreme Networks, Inc has a 12-month low of $4.37 and a 12-month high of $14.34. The company has a market capitalization of $1,443.84, a P/E ratio of 29.60, a P/E/G ratio of 1.24 and a beta of 1.14.
Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $211.72 million for the quarter, compared to the consensus estimate of $203.86 million. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The company’s quarterly revenue was up 72.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. equities analysts forecast that Extreme Networks, Inc will post 0.6 EPS for the current year.
EXTR has been the topic of several research reports. Needham & Company LLC upped their price objective on shares of Extreme Networks from $12.50 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. BidaskClub raised shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research raised shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, August 18th. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $17.00 price objective (up previously from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $13.25.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXTR. PNC Financial Services Group Inc. purchased a new position in Extreme Networks during the 2nd quarter valued at approximately $101,000. BlueCrest Capital Management Ltd bought a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $116,000. SG Americas Securities LLC bought a new stake in shares of Extreme Networks during the 3rd quarter worth approximately $116,000. Ameritas Investment Partners Inc. lifted its stake in shares of Extreme Networks by 13.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock worth $124,000 after acquiring an additional 1,565 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Extreme Networks by 10.9% during the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,378 shares during the period. Institutional investors and hedge funds own 80.95% of the company’s stock.
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About Extreme Networks
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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