Extreme Networks, Inc. (NASDAQ:EXTR) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 54.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,959 shares of the technology company’s stock after purchasing an additional 1,745 shares during the quarter. KBC Group NV’s holdings in Extreme Networks were worth $75,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Extreme Networks by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock worth $175,191,000 after buying an additional 2,191,181 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Extreme Networks by 52.3% during the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after purchasing an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Extreme Networks by 318.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at about $25,409,000. Finally, Bank of New York Mellon Corp grew its stake in Extreme Networks by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,055,179 shares of the technology company’s stock worth $14,192,000 after buying an additional 3,572 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Extreme Networks stock opened at $16.03 on Friday. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. The stock has a market capitalization of $2.12 billion, a P/E ratio of -16.15, a P/E/G ratio of 3.36 and a beta of 1.77. The firm’s 50-day moving average is $15.26 and its two-hundred day moving average is $13.79. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 117,175 shares of company stock worth $1,763,279. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

EXTR has been the topic of a number of research reports. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a research note on Wednesday, November 6th. B. Riley increased their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. Finally, StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.