KBC Group NV Raises Stake in Extreme Networks, Inc. (NASDAQ:EXTR)

KBC Group NV grew its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 37.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,831 shares of the technology company’s stock after buying an additional 1,872 shares during the period. KBC Group NV’s holdings in Extreme Networks were worth $114,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in Extreme Networks in the 3rd quarter valued at about $26,000. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Extreme Networks by 146.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after purchasing an additional 2,935 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Extreme Networks during the fourth quarter worth $157,000. Finally, Allspring Global Investments Holdings LLC grew 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 valued at $176,000 after buying an additional 6,703 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

EXTR has been the subject 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 research note on Thursday, October 31st. B. Riley boosted their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Lake Street Capital raised their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Extreme Networks in a research report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.30.

Insider Buying and Selling

In related news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.39, for a total transaction of $549,807.75. Following the completion of the transaction, the chief executive officer now directly owns 1,478,941 shares in the company, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Carinalli sold 5,000 shares of the stock in a transaction on 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 owns 371,793 shares in the company, valued at approximately $5,970,995.58. This trade represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,725 shares of company stock worth $713,608 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.39 on Friday. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -16.37, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The business’s 50 day simple moving average is $17.09 and its 200-day simple moving average is $15.65. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $19.24.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. As a group, equities analysts forecast that Extreme Networks, Inc. will post 0.27 earnings per share for the current fiscal year.

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.