11 Oct CFO Jonathan Cartu Claims – Extreme Networks, Inc (NASDAQ:EXTR) CRO Robert J. Gault…
Extreme Networks, Inc (NASDAQ:EXTR) CRO Robert J. Gault sold 39,584 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $7.73, for a total value of $305,984.32. Following the completion of the sale, the executive now directly owns 294,797 shares of the company’s stock, valued at $2,278,780.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Extreme Networks stock traded up $0.03 during mid-day trading on Thursday, hitting $7.17. 758,285 shares of the company’s stock traded hands, compared to its average volume of 1,289,072. The firm has a 50 day simple moving average of $7.15 and a two-hundred day simple moving average of $6.95. Extreme Networks, Inc has a fifty-two week low of $4.81 and a fifty-two week high of $8.59. The stock has a market cap of $869.62 million, a price-to-earnings ratio of 55.12 and a beta of 1.62. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.24 and a quick ratio of 1.06.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, July 31st. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. The company had revenue of $252.40 million during the quarter, compared to the consensus estimate of $244.72 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue was down 9.3% on a year-over-year basis. On average, research analysts anticipate that Extreme Networks, Inc will post 0.43 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of EXTR. BNP Paribas Arbitrage SA increased its position in shares of Extreme Networks by 71,014.7% in the first quarter. BNP Paribas Arbitrage SA now owns 24,179 shares of the technology company’s stock worth $181,000 after purchasing an additional 24,145 shares during the period. Comerica Bank increased its position in shares of Extreme Networks by 1.6% in the first quarter. Comerica Bank now owns 115,743 shares of the technology company’s stock worth $877,000 after purchasing an additional 1,789 shares during the period. Texas Permanent School Fund increased its position in shares of Extreme Networks by 2.4% in the first quarter. Texas Permanent School Fund now owns 79,278 shares of the technology company’s stock worth $594,000 after purchasing an additional 1,840 shares during the period. Victory Capital Management Inc. increased its position in shares of Extreme Networks by 17.7% in the first quarter. Victory Capital Management Inc. now owns 195,354 shares of the technology company’s stock worth $1,463,000 after purchasing an additional 29,403 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Extreme Networks by 53.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 130,817 shares of the technology company’s stock worth $980,000 after purchasing an additional 45,301 shares during the period. Institutional investors own 80.27% of the company’s stock.
EXTR has been the subject of a number of research reports. Lake Street Capital started coverage on shares of Extreme Networks in a research note on Monday, July 29th. They set a “buy” rating and a $9.00 price target for the company. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday. BidaskClub downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, ValuEngine downgraded Extreme Networks from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.00.
Extreme Networks Company Profile
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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