Insider Selling: Extreme Networks, Inc. (NASDAQ:EXTR) Director Sells 7,973 Shares of Stock

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) Director Raj Khanna sold 7,973 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $17.20, for a total transaction of $137,135.60. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link.

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 Stock Performance

NASDAQ EXTR traded up $0.51 during trading on Tuesday, hitting $17.71. 2,094,451 shares of the company's stock traded hands, compared to its average volume of 1,259,040. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 344.00, a PEG ratio of 3.16 and a beta of 1.73. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month 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. The business has a 50 day moving average of $15.10 and a 200-day moving average of $15.39.

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, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $284.51 million for 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 period in the prior year, the firm earned ($0.19) earnings per share. As a group, equities research analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Extreme Networks

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its position in shares of Extreme Networks by 1.3% in the fourth quarter. Rhumbline Advisers now owns 372,591 shares of the technology company's stock worth $6,237,000 after purchasing an additional 4,610 shares during the last quarter. Principal Financial Group Inc. grew its position in Extreme Networks by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 642,531 shares of the technology company's stock valued at $10,756,000 after acquiring an additional 26,853 shares during the last quarter. New York State Common Retirement Fund grew its position in 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 acquiring 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. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXTR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. UBS Group reduced their target price on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. 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. Rosenblatt Securities boosted their price target on shares of Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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