Insider Selling: Extreme Networks, Inc. (NASDAQ:EXTR) Director Sells 2,027 Shares of Stock

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) Director Raj Khanna sold 2,027 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $17.43, for a total transaction of $35,330.61. Following the completion of the transaction, the director now owns 231,708 shares of the company's stock, valued at $4,038,670.44. This trade represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Raj Khanna also recently made the following trade(s):

• On Monday, June 23rd, Raj Khanna sold 7,973 shares of Extreme Networks stock. The stock was sold at an average price of $17.20, for a total value of $137,135.60.

Extreme Networks Stock Down 1.3%

EXTR traded down $0.23 during trading on Friday, reaching $17.74. The stock had a trading volume of 596,188 shares, compared to its average volume of 1,226,664. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -43.29, a P/E/G ratio of 3.27 and a beta of 1.73. The stock's 50 day moving average is $15.36 and its two-hundred day moving average is $15.41. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $19.24.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The company had revenue of $284.51 million during the quarter, compared to analyst estimates of $280.32 million. During the same period last year, the business earned ($0.19) EPS. Extreme Networks's quarterly revenue was up 34.8% compared to the same quarter last year. As a group, analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EXTR. Rhumbline Advisers raised its position in Extreme Networks by 1.3% in the 4th quarter. Rhumbline Advisers now owns 372,591 shares of the technology company's stock worth $6,237,000 after buying an additional 4,610 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Extreme Networks by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company's stock worth $10,756,000 after acquiring an additional 26,853 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Extreme Networks by 1,639.7% during the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company's stock valued at $10,474,000 after purchasing an additional 589,713 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Extreme Networks during the fourth quarter valued at approximately $551,000. Finally, Proficio Capital Partners LLC bought a new position in Extreme Networks during the fourth quarter valued at approximately $200,000. Institutional investors own 91.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXTR. Lake Street Capital decreased their price objective on Extreme Networks from $16.00 to $15.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of Extreme Networks in a report on Thursday, May 15th. Rosenblatt Securities boosted their target price on Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, UBS Group reduced their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.92.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation. The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.