Wesbanco Bank Inc. Increases Holdings in Extreme Networks, Inc. (NASDAQ:EXTR)

Wesbanco Bank Inc. increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 42.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,400 shares of the technology company’s stock after purchasing an additional 21,928 shares during the period. Wesbanco Bank Inc. owned 0.06% of Extreme Networks worth $1,229,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in Extreme Networks in the third quarter valued at $26,000. GAMMA Investing LLC increased its position in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,035 shares during the last quarter. KBC Group NV raised its holdings in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after buying an additional 1,745 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Extreme Networks by 146.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after buying an additional 2,935 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Extreme Networks by 134.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company’s stock worth $176,000 after buying an additional 6,703 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

EXTR has been the subject of a number of research reports. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Craig Hallum upped their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. B. Riley lifted their price objective on 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 target price on shares of Extreme Networks in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $17.27 on Friday. The stock’s 50-day simple moving average is $17.09 and its two-hundred day simple moving average is $15.48. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -17.80, a PEG ratio of 3.80 and a beta of 1.75. Extreme Networks, Inc. has a 52-week low of $10.49 and a 52-week high of $19.24. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91.

Insider Transactions at Extreme Networks

In related news, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the sale, the director now owns 228,733 shares of the company’s stock, valued at $3,780,956.49. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $16.06, for a total transaction of $80,300.00. Following the completion of the transaction, the director now directly owns 371,793 shares of the company’s stock, valued at approximately $5,970,995.58. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,725 shares of company stock valued at $863,546 over the last three months. Corporate insiders own 3.70% of the company’s stock.

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.