Extreme Networks, Inc. (NASDAQ:EXTR) CRO Joseph A. Vitalone Sells 45,090 Shares

Posted by Defense World Staff on Sep 19th, 2023

Extreme Networks, Inc. (NASDAQ:EXTR – Get Free Report) CRO Joseph A. Vitalone sold 45,090 shares of Extreme Networks stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $23.71, for a total transaction of $1,069,083.90. Following the sale, the executive now directly owns 107,804 shares of the company’s stock, valued at approximately $2,556,032.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Extreme Networks Stock Up 1.5 %

Shares of NASDAQ EXTR opened at $24.21 on Tuesday. The stock’s fifty day simple moving average is $27.63 and its two-hundred day simple moving average is $22.54. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 1.61. Extreme Networks, Inc. has a 12-month low of $12.09 and a 12-month high of $32.73. The stock has a market capitalization of $3.15 billion, a PE ratio of 41.74, a price-to-earnings-growth ratio of 1.23 and a beta of 2.04.

Extreme Networks (NASDAQ:EXTR – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Extreme Networks had a net margin of 5.95% and a return on equity of 95.31%. The firm had revenue of $363.91 million for the quarter, compared to the consensus estimate of $344.85 million. As a group, analysts expect that Extreme Networks, Inc. will post 1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

EXTR has been the subject of several research analyst reports. B. Riley downgraded shares of Extreme Networks from a “buy” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $30.00 in a research note on Thursday, August 3rd. Lake Street Capital upped their price objective on shares of Extreme Networks from $27.00 to $33.00 in a research note on Wednesday, August 2nd. Oppenheimer started coverage on shares of Extreme Networks in a research note on Tuesday, June 27th. They issued an “outperform” rating and a $35.00 price objective for the company. StockNews.com started coverage on shares of Extreme Networks in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Extreme Networks in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.71.

Read Our Latest Research Report on Extreme Networks

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. West Tower Group LLC acquired a new position in Extreme Networks during the 2nd quarter valued at about $28,000. Cutler Group LLC CA increased its position in Extreme Networks by 166.7% during the 2nd quarter. Cutler Group LLC CA now owns 1,200 shares of the technology company’s stock valued at $31,000 after buying an additional 3,000 shares in the last quarter. Tucker Asset Management LLC acquired a new position in Extreme Networks during the 1st quarter valued at about $32,000. Meeder Asset Management Inc. increased its position in Extreme Networks by 49.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company’s stock valued at $33,000 after buying an additional 592 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new position in Extreme Networks during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Extreme Networks Company Profile

(Get Free Report)

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.