Extreme Networks, Inc. (NASDAQ:EXTR) Director Sells $137,135.60 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) Director Raj Khanna sold 7,973 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $17.20, for a total value of $137,135.60. Following the transaction, the director now owns 233,735 shares of the company's stock, valued at $4,020,242. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, June 24th, Raj Khanna sold 2,027 shares of Extreme Networks stock. The stock was sold at an average price of $17.43, for a total transaction of $35,330.61.

Extreme Networks Price Performance

Shares of EXTR traded down $0.23 on Friday, reaching $17.74. The stock had a trading volume of 596,188 shares, compared to its average volume of 1,226,664. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The firm has a market capitalization of $2.36 billion, a PE ratio of -43.29, a PEG ratio of 3.27 and a beta of 1.73. The firm has a 50-day moving average of $15.36 and a 200 day moving average of $15.41. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 2.33.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. 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 increased their price target on shares of Extreme Networks from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Lake Street Capital reduced their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, UBS Group reduced their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.92.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in Extreme Networks by 397,835.5% during 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 buying an additional 2,275,619 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Extreme Networks during the first quarter valued at $14,147,000. LMR Partners LLP purchased a new stake in Extreme Networks during the 4th quarter worth about $16,573,000. JPMorgan Chase & Co. raised its stake in Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after purchasing an additional 908,336 shares during the last quarter. Finally, Penn Capital Management Company LLC purchased a new position in Extreme Networks in the 4th quarter valued at about $14,229,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.