First Hawaiian Bank Buys 4,995 Shares of Extreme Networks, Inc. (NASDAQ:EXTR)

First Hawaiian Bank boosted its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 20.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 29,567 shares of the technology company’s stock after acquiring an additional 4,995 shares during the period. First Hawaiian Bank’s holdings in Extreme Networks were worth $391,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EXTR. Byrne Asset Management LLC acquired a new position in Extreme Networks during the fourth quarter worth $30,000. Sterling Capital Management LLC raised its holdings in Extreme Networks by 603.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company’s stock worth $32,000 after buying an additional 1,665 shares during the last quarter. Orion Capital Management LLC acquired a new position in Extreme Networks during the fourth quarter worth $33,000. Smartleaf Asset Management LLC raised its holdings in shares of Extreme Networks by 385.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Extreme Networks by 42.1% in the fourth quarter. Quarry LP now owns 2,426 shares of the technology company’s stock valued at $41,000 after purchasing an additional 719 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $15.64 on Monday. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24. The company has a 50-day simple moving average of $13.64 and a 200 day simple moving average of $15.37. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $2.08 billion, a PE ratio of -16.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.67.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, April 30th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. The business had revenue of $284.51 million during the quarter, compared to the consensus estimate of $280.32 million. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s quarterly revenue was up 34.8% compared to the same quarter last year. On average, research analysts predict that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Extreme Networks declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy up to 9.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on EXTR shares. Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Extreme Networks in a report on Thursday, May 1st. UBS Group lowered their target price on shares of Extreme Networks from $16.50 to $15.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Lake Street Capital lowered their target price on shares of Extreme Networks from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.58.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $13.73, for a total transaction of $490,504.25. Following the completion of the transaction, the chief executive officer now owns 1,510,719 shares in the company, valued at $20,742,171.87. This trade represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.

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.