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

Wesbanco Bank Inc. boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,400 shares of the technology company’s stock after buying an additional 21,928 shares during the period. Wesbanco Bank Inc.’s holdings in Extreme Networks were worth $1,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Extreme Networks during the fourth quarter valued at approximately $833,000. Nisa Investment Advisors LLC increased its position 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 in the last quarter. Mirador Capital Partners LP lifted its holdings in shares of Extreme Networks by 0.5% during the 4th quarter. Mirador Capital Partners LP now owns 367,197 shares of the technology company’s stock valued at $6,147,000 after purchasing an additional 1,873 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Extreme Networks in the 4th quarter worth $411,000. Finally, Central Pacific Bank Trust Division purchased a new position in Extreme Networks during the 4th quarter worth $267,000. Institutional investors own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Craig Hallum boosted their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, B. Riley raised their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Extreme Networks Price Performance

Shares of EXTR stock opened at $17.27 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 company has a market capitalization of $2.28 billion, a PE ratio of -17.80, a price-to-earnings-growth ratio of 3.80 and a beta of 1.75. The firm’s 50-day moving average is $17.09 and its two-hundred day moving average is $15.48. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $19.24.

Insider Buying and Selling

In other Extreme Networks news, Director Raj Khanna sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total value of $165,300.00. Following the completion of the transaction, the director now owns 228,733 shares in the company, valued at $3,780,956.49. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,725 shares of company stock valued at $863,546. Company insiders own 3.70% of the company’s stock.

Extreme Networks Company 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.