Extreme Networks (EXTR) Stock Price Up 5.2%

Extreme Networks, Inc (NASDAQ:EXTR) shares rose 5.2% during trading on Friday . The company traded as high as $6.75 and last traded at $6.72. Approximately 1,854,331 shares were traded during trading, an increase of 21% from the average daily volume of 1,527,396 shares. The stock had previously closed at $6.39.

EXTR has been the topic of a number of analyst reports. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Tuesday, January 8th. BidaskClub raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, January 11th. DA Davidson set a $13.00 price objective on Extreme Networks and gave the company a “buy” rating in a report on Monday, January 14th. ValuEngine lowered Extreme Networks from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, TheStreet raised Extreme Networks from a “d+” rating to a “c” rating in a report on Tuesday, January 29th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Extreme Networks presently has a consensus rating of “Hold” and a consensus price target of $9.00.

The company has a market cap of $784.63 million, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.78 and a beta of 1.24. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.29 and a quick ratio of 1.04.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Extreme Networks had a positive return on equity of 26.15% and a negative net margin of 1.41%. The firm had revenue of $250.90 million during the quarter, compared to the consensus estimate of $253.49 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that Extreme Networks, Inc will post 0.27 earnings per share for the current year.

In related news, insider Edward Meyercord sold 15,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $7.49, for a total transaction of $112,350.00. Following the completion of the sale, the insider now owns 547,692 shares in the company, valued at approximately $4,102,213.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.45% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Extreme Networks by 2.6% during the 3rd quarter. BlackRock Inc. now owns 16,383,752 shares of the technology company’s stock valued at $89,782,000 after purchasing an additional 420,188 shares during the period. Millennium Management LLC boosted its stake in Extreme Networks by 109.0% during the 4th quarter. Millennium Management LLC now owns 2,281,026 shares of the technology company’s stock valued at $13,914,000 after purchasing an additional 1,189,409 shares during the period. Marshall Wace LLP bought a new stake in Extreme Networks during the 3rd quarter valued at approximately $9,922,000. D. E. Shaw & Co. Inc. boosted its stake in Extreme Networks by 87.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,496,204 shares of the technology company’s stock valued at $9,127,000 after purchasing an additional 699,754 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Extreme Networks by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,463,932 shares of the technology company’s stock valued at $8,023,000 after purchasing an additional 63,343 shares during the period. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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About Extreme Networks (NASDAQ:EXTR)

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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