Extreme Networks (NASDAQ:EXTR) Upgraded to “Hold” by BidaskClub
Separately, Zacks Investment Research cut Extreme Networks from a hold rating to a sell rating in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $9.00.
Shares of EXTR opened at $5.58 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.10 and a debt-to-equity ratio of 1.37. Extreme Networks has a 1 year low of $4.81 and a 1 year high of $9.08. The stock has a market cap of $705.41 million, a price-to-earnings ratio of 12.68 and a beta of 1.55.
In other Extreme Networks news, insider Edward Meyercord sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $7.49, for a total transaction of $112,350.00. Following the transaction, the insider now owns 547,692 shares in the company, valued at $4,102,213.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.45% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Acadian Asset Management LLC bought a new position in shares of Extreme Networks during the 4th quarter valued at about $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Extreme Networks by 438.4% during the 1st quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock valued at $26,000 after purchasing an additional 2,823 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in shares of Extreme Networks during the 4th quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its holdings in shares of Extreme Networks by 384.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,292 shares of the technology company’s stock valued at $57,000 after purchasing an additional 7,372 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Extreme Networks during the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 80.90% 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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