Insider Selling: Extreme Networks SVP Sells 6,000 Shares of Stock (EXTR)
Extreme Networks (NASDAQ:EXTR) SVP Frank Blohm unloaded 6,000 shares of the stock on the open market in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $5.24, for a total value of $31,440.00. Following the completion of the sale, the senior vice president now directly owns 89,374 shares in the company, valued at approximately $468,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Extreme Networks (NASDAQ:EXTR) traded up 1.91% on Friday, hitting $5.33. 1,155,269 shares of the company’s stock traded hands. Extreme Networks has a 52-week low of $3.53 and a 52-week high of $8.14. The stock has a 50-day moving average of $4.74 and a 200-day moving average of $5.0. The company’s market cap is $515.5 million.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.02. The company had revenue of $155.30 million for the quarter, compared to the consensus estimate of $154.52 million. Analysts expect that Extreme Networks will post $0.41 EPS for the current fiscal year.
A number of research firms have recently commented on EXTR. Analysts at Zacks upgraded shares of Extreme Networks from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $5.80 price target on the stock. Separately, analysts at Wunderlich reiterated a “buy” rating on shares of Extreme Networks in a research note on Tuesday, July 22nd. They now have a $9.00 price target on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Extreme Networks in a research note on Thursday, June 19th. They set a “neutral” rating and a $5.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Extreme Networks presently has an average rating of “Buy” and a consensus price target of $6.80.
Extreme Networks, Inc together with its subsidiaries, is a provider of network infrastructure equipment and services for enterprises, data centers, and service providers.
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