19 Sep CTO Jonathan Cartu Writes – Robert J. Gault Sells 39,584 Shares of Extreme Networks,…
Extreme Networks, Inc (NASDAQ:EXTR) CRO Robert J. Gault sold 39,584 shares of the company’s stock in a transaction that occurred on 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 owns 294,797 shares in the company, valued at approximately $2,278,780.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:EXTR opened at $7.44 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.24 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average price is $7.39 and its two-hundred day moving average price is $6.99. The firm has a market capitalization of $948.73 million, a price-to-earnings ratio of 71.46 and a beta of 1.64. Extreme Networks, Inc has a 12-month low of $4.81 and a 12-month high of $8.59.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $252.40 million for the quarter, compared to analyst estimates of $244.72 million. Extreme Networks had a positive return on equity of 10.98% and a negative net margin of 2.60%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts expect that Extreme Networks, Inc will post 0.43 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in EXTR. BNP Paribas Arbitrage SA increased its stake in shares of Extreme Networks by 71,014.7% during 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 stake in Extreme Networks by 1.6% during the 1st quarter. Comerica Bank now owns 115,743 shares of the technology company’s stock worth $877,000 after acquiring an additional 1,789 shares during the period. Texas Permanent School Fund increased its stake in Extreme Networks by 2.4% during the 1st quarter. Texas Permanent School Fund now owns 79,278 shares of the technology company’s stock worth $594,000 after acquiring an additional 1,840 shares during the period. Victory Capital Management Inc. increased its stake in Extreme Networks by 17.7% during the 1st quarter. Victory Capital Management Inc. now owns 195,354 shares of the technology company’s stock worth $1,463,000 after acquiring an additional 29,403 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Extreme Networks by 53.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,817 shares of the technology company’s stock worth $980,000 after acquiring an additional 45,301 shares during the period. Institutional investors own 80.67% of the company’s stock.
EXTR has been the topic of several research analyst reports. Lake Street Capital initiated coverage on Extreme Networks in a research note on Monday, July 29th. They issued a “buy” rating and a $9.00 price objective on the stock. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, August 13th. BidaskClub upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Extreme Networks presently has a consensus rating of “Buy” and an average price target of $10.33.
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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