Hsbc Holdings PLC Has $358,000 Stock Position in Extreme Networks, Inc. $EXTR

Key Points

• Hsbc Holdings PLC has significantly reduced its stake in Extreme Networks by 69.5%, now owning only 28,328 shares valued at approximately $358,000.
• Multiple institutional investors have increased their stakes in Extreme Networks, with GAMMA Investing LLC boosting its holdings by 2,619.8% during the first quarter.
• Recent analyst upgrades have seen Extreme Networks' stock rated as a "buy" or "strong-buy" by several firms, adjusting target prices notably to the range of $21.00 to $25.00.

Hsbc Holdings PLC decreased its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 69.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,328 shares of the technology company's stock after selling 64,677 shares during the period. Hsbc Holdings PLC's holdings in Extreme Networks were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestcor Inc grew its position in Extreme Networks by 4.6% in the 1st quarter. Vestcor Inc now owns 22,462 shares of the technology company's stock worth $297,000 after purchasing an additional 988 shares during the last quarter. Cresset Asset Management LLC grew its position in Extreme Networks by 1.2% in the 4th quarter. Cresset Asset Management LLC now owns 131,617 shares of the technology company's stock worth $2,203,000 after purchasing an additional 1,522 shares during the last quarter. GAMMA Investing LLC grew its position in Extreme Networks by 105.6% in the 1st quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock worth $42,000 after purchasing an additional 1,628 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Extreme Networks in the fourth quarter valued at approximately $33,000. Finally, Byrne Asset Management LLC boosted its holdings in shares of Extreme Networks by 115.6% in the first quarter. Byrne Asset Management LLC now owns 3,881 shares of the technology company's stock valued at $51,000 after acquiring an additional 2,081 shares in the last quarter. Institutional investors own 91.05% of the company's stock.

Insider Activity

In other Extreme Networks news, Director Raj Khanna sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $19.91, for a total value of $298,650.00. Following the completion of the sale, the director owned 216,708 shares in the company, valued at $4,314,656.28. This represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $17.18, for a total transaction of $613,755.50. Following the completion of the sale, the chief executive officer owned 1,541,282 shares of the company's stock, valued at approximately $26,479,224.76. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 149,450 shares of company stock worth $2,838,234 in the last quarter. Insiders own 3.70% of the company's stock.

Extreme Networks Trading Down 3.3%

Shares of NASDAQ:EXTR traded down $0.75 during mid-day trading on Friday, hitting $21.70. The stock had a trading volume of 2,149,629 shares, compared to its average volume of 1,368,466. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.74 and a current ratio of 0.91. The company has a market cap of $2.89 billion, a PE ratio of -434.00, a P/E/G ratio of 2.35 and a beta of 1.84. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month high of $22.63. The company's 50 day moving average is $19.16 and its 200-day moving average is $16.21.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $299.88 million. Extreme Networks had a negative net margin of 0.65% and a positive return on equity of 82.47%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) EPS. On average, sell-side analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EXTR shares. UBS Group increased their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Needham & Company LLC increased their price objective on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Rosenblatt Securities increased their price objective on shares of Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Lake Street Capital raised shares of Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.92.

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.