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 Extreme Networks 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 directly owns 231,708 shares in the company, valued at $4,038,670.44. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 transaction of $137,135.60.

Extreme Networks Stock Performance

NASDAQ EXTR traded up $0.51 on Tuesday, reaching $17.71. 2,094,451 shares of the company's stock traded hands, compared to its average volume of 1,259,040. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 344.00, a P/E/G ratio of 3.16 and a beta of 1.73. The stock has a 50 day moving average price of $15.10 and a 200-day moving average price of $15.39. Extreme Networks, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $19.24. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.70 and a current ratio of 0.93.

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

Analyst Ratings Changes

Several equities analysts have issued reports on EXTR shares. Lake Street Capital cut their price target on shares of 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 reissued a "buy" rating and set a $20.00 price objective on shares of Extreme Networks in a report on Thursday, May 15th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. UBS Group dropped their price objective on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, June 13th. Two investment 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.92.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EXTR. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock worth $38,103,000 after acquiring an additional 2,275,619 shares during the period. Nuveen LLC acquired a new position in shares of Extreme Networks in the first quarter worth about $14,147,000. LMR Partners LLP purchased a new stake in shares of Extreme Networks during the fourth quarter worth about $16,573,000. JPMorgan Chase & Co. increased its stake in shares of Extreme Networks by 312.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after purchasing an additional 908,336 shares in the last quarter. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Extreme Networks during the fourth quarter worth about $14,229,000. Institutional investors and hedge funds own 91.05% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.