First Hawaiian Bank Makes New Investment in Extreme Networks, Inc. (NASDAQ:EXTR)

First Hawaiian Bank acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, HoldingsChannel reports. The firm acquired 24,572 shares of the technology company’s stock, valued at approximately $411,000.

A number of other institutional investors also recently made changes to their positions in EXTR. Victory Capital Management Inc. lifted its stake in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock worth $67,124,000 after purchasing an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Extreme Networks during the 2nd quarter valued at about $25,409,000. Rubric Capital Management LP grew its position in Extreme Networks by 52.3% during the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after acquiring an additional 1,804,744 shares during the last quarter. Portolan Capital Management LLC increased its stake in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock worth $15,944,000 after purchasing an additional 700,724 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after purchasing an additional 531,500 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling at Extreme Networks

In other news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $16.06, for a total value of $80,300.00. Following the sale, the director now directly owns 371,793 shares of the company’s stock, valued at $5,970,995.58. This represents a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the transaction, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,667,734.88. This trade represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,725 shares of company stock valued at $863,546. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EXTR has been the topic of several recent analyst 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 report on Thursday, October 31st. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. 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 report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of Extreme Networks in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Trading Down 3.5 %

Shares of EXTR opened at $16.88 on Friday. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $19.24. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The firm’s 50-day moving average price is $16.94 and its 200-day moving average price is $15.25. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -17.40, a PEG ratio of 3.96 and a beta of 1.75.

About Extreme Networks

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.