Hsbc Holdings PLC Boosts Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Hsbc Holdings PLC boosted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 263.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,005 shares of the technology company's stock after purchasing an additional 67,405 shares during the quarter. Hsbc Holdings PLC owned about 0.07% of Extreme Networks worth $1,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Trigran Investments Inc. lifted its holdings in shares of Extreme Networks by 4.1% in the 4th quarter. Trigran Investments Inc. now owns 2,384,325 shares of the technology company's stock worth $39,914,000 after buying an additional 94,508 shares during the period. MetLife Investment Management LLC lifted its position in shares of Extreme Networks by 3.6% during the fourth quarter. MetLife Investment Management LLC now owns 76,739 shares of the technology company's stock valued at $1,285,000 after buying an additional 2,672 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Extreme Networks by 100.8% during the fourth quarter. Guggenheim Capital LLC now owns 28,042 shares of the technology company's stock valued at $469,000 after buying an additional 14,076 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Extreme Networks in the 4th quarter worth approximately $527,000. Finally, Barclays PLC grew its position in shares of Extreme Networks by 50.0% in the 4th quarter. Barclays PLC now owns 326,711 shares of the technology company's stock worth $5,470,000 after buying an additional 108,836 shares during the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $13.73, for a total value of $490,504.25. Following the transaction, the chief executive officer now directly owns 1,510,719 shares of the company's stock, valued at $20,742,171.87. The trade was a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.70% of the stock is owned by company insiders.

Extreme Networks Trading Up 0.1 %

Shares of EXTR traded up $0.02 during trading on Monday, reaching $14.01. 1,458,607 shares of the company traded hands, compared to its average volume of 1,429,146. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $19.24. The stock has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $15.35. The stock has a market cap of $1.86 billion, a PE ratio of -14.90, a price-to-earnings-growth ratio of 3.06 and a beta of 1.57. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. The business had revenue of $284.51 million for the quarter, compared to analysts' expectations of $280.32 million. During the same period last year, the firm earned ($0.19) earnings per share. The company's revenue for the quarter was up 34.8% compared to the same quarter last year. On average, analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Extreme Networks declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group cut their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of Extreme Networks in a report on Wednesday, April 30th. Rosenblatt Securities reissued a "buy" rating and issued a $18.00 price objective on shares of Extreme Networks in a report on Thursday. Finally, Lake Street Capital cut their price target on Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.58.

Extreme Networks Profile

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.