ValuEngine downgraded shares of Extreme Networks, Inc. (NASDAQ:EXTR) from a buy rating to a hold rating in a report published on Monday.

EXTR has been the subject of several other reports. Needham & Company LLC boosted their price objective on shares of Extreme Networks from $12.50 to $13.00 and gave the company a buy rating in a research note on Tuesday, August 15th. BidaskClub cut shares of Extreme Networks from a buy rating to a hold rating in a research note on Wednesday, July 5th. Finally, Zacks Investment Research cut shares of Extreme Networks from a buy rating to a hold rating in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $11.67.

Extreme Networks (NASDAQ EXTR) traded up 0.32% on Monday, reaching $12.62. The company’s stock had a trading volume of 304,043 shares. The stock’s market capitalization is $1.43 billion. Extreme Networks has a 52 week low of $4.02 and a 52 week high of $13.20. The firm has a 50 day moving average price of $11.40 and a 200 day moving average price of $9.42.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Monday, August 14th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). Extreme Networks had a negative net margin of 1.42% and a positive return on equity of 41.17%. The company had revenue of $178.70 million for the quarter, compared to analysts’ expectations of $171.96 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. On average, equities analysts anticipate that Extreme Networks will post $0.70 EPS for the current year.

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In other Extreme Networks news, Director Kathleen M. Holmgren purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average cost of $11.49 per share, with a total value of $57,450.00. Following the transaction, the director now owns 36,662 shares in the company, valued at $421,246.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward Meyercord sold 100,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the sale, the insider now directly owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in Extreme Networks during the 2nd quarter worth $101,000. FNY Partners Fund LP purchased a new stake in Extreme Networks during the 1st quarter worth $112,000. Bank of Montreal Can boosted its position in Extreme Networks by 3,689.4% during the 1st quarter. Bank of Montreal Can now owns 15,006 shares of the technology company’s stock worth $113,000 after purchasing an additional 14,610 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in Extreme Networks during the 2nd quarter worth $116,000. Finally, Ameritas Investment Partners Inc. boosted its position in 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 purchasing an additional 1,565 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Company Profile

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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