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

Hsbc Holdings PLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 263.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,005 shares of the technology company's stock after buying an additional 67,405 shares during the quarter. Hsbc Holdings PLC owned 0.07% of Extreme Networks worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Extreme Networks

In related 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 transaction of $490,504.25. Following the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at approximately $20,742,171.87. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

Extreme Networks Stock Performance

Extreme Networks stock traded up $0.19 during mid-day trading on Wednesday, reaching $14.38. 221,254 shares of the stock traded hands, compared to its average volume of 1,417,352. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month high of $19.24. The stock has a market capitalization of $1.91 billion, a PE ratio of -15.27, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The business's 50-day moving average is $13.30 and its 200-day moving average is $15.34.

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

Extreme Networks declared that its board has approved a share buyback program on Tuesday, February 18th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

EXTR has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a report on Wednesday, April 30th. UBS Group cut their target price on Extreme Networks from $16.50 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Lake Street Capital decreased 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, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $18.00 price objective on shares of Extreme Networks in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Extreme Networks has a consensus rating of "Moderate Buy" and an average price target of $18.58.

Extreme Networks Company 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.