Insider Selling: Extreme Networks, Inc (EXTR) Director Sells 10,000 Shares of Stock
Extreme Networks, Inc (NASDAQ:EXTR) Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $13.81, for a total value of $138,100.00. Following the completion of the transaction, the director now directly owns 99,523 shares in the company, valued at $1,374,412.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Extreme Networks, Inc (NASDAQ:EXTR) traded up $0.05 on Monday, hitting $13.76. The stock had a trading volume of 1,840,568 shares, compared to its average volume of 1,558,551. 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 52-week low of $4.17 and a 52-week high of $14.34. The stock has a market capitalization of $1,554.99, a PE ratio of 31.88, a PEG ratio of 1.34 and a beta of 1.13.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The firm had revenue of $211.72 million for the quarter, compared to analysts’ expectations of $203.86 million. During the same period in the previous year, the firm earned $0.07 earnings per share. The business’s revenue was up 72.5% compared to the same quarter last year. analysts forecast that Extreme Networks, Inc will post 0.6 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of EXTR. Vanguard Group Inc. increased its stake in shares of Extreme Networks by 4.8% during the first quarter. Vanguard Group Inc. now owns 7,210,885 shares of the technology company’s stock valued at $54,154,000 after buying an additional 331,478 shares during the period. Geode Capital Management LLC increased its stake in shares of Extreme Networks by 37.6% during the first quarter. Geode Capital Management LLC now owns 1,118,815 shares of the technology company’s stock valued at $8,401,000 after buying an additional 305,764 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Extreme Networks by 30.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,649,429 shares of the technology company’s stock valued at $19,897,000 after buying an additional 618,989 shares during the period. UBS Group AG increased its stake in shares of Extreme Networks by 249.7% during the first quarter. UBS Group AG now owns 58,852 shares of the technology company’s stock valued at $442,000 after buying an additional 42,023 shares during the period. Finally, Morgan Stanley boosted its position in shares of Extreme Networks by 49.2% during the first quarter. Morgan Stanley now owns 1,145,086 shares of the technology company’s stock valued at $8,600,000 after purchasing an additional 377,822 shares in the last quarter. 76.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on EXTR shares. ValuEngine raised Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Needham & Company LLC lifted their price target on Extreme Networks from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Zacks Investment Research cut Extreme Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Craig Hallum reissued a “buy” rating and set a $17.00 target price (up from $12.50) on shares of Extreme Networks in a research note on Wednesday, November 8th. Finally, BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.25.
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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