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

Wesbanco Bank Inc. raised its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 42.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.06% of Extreme Networks worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EXTR. Quarry LP bought a new stake in Extreme Networks in the third quarter valued at $26,000. GAMMA Investing LLC boosted its stake 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 in the last quarter. KBC Group NV increased its position in shares of Extreme Networks by 54.3% during the third 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 during the period. Nisa Investment Advisors LLC lifted its holdings in Extreme Networks by 146.2% in the fourth 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 period. Finally, Allspring Global Investments Holdings LLC boosted its position in Extreme Networks by 134.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,700 shares of the technology company's stock valued at $176,000 after acquiring an additional 6,703 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Rosenblatt Securities restated a "buy" rating and issued a $21.00 target price on shares of Extreme Networks in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. B. Riley increased their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Craig Hallum boosted their price objective 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $19.00.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief executive officer now owns 1,448,378 shares of the company's stock, valued at $21,667,734.88. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks 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 completion of the sale, the director now owns 228,733 shares in the company, valued at approximately $3,780,956.49. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,725 shares of company stock worth $863,546. 3.70% of the stock is owned by insiders.

Extreme Networks Stock Performance

Shares of EXTR stock traded down $0.28 during trading hours on Friday, reaching $17.01. The company had a trading volume of 340,769 shares, compared to its average volume of 696,329. The company has a debt-to-equity ratio of 5.33, a quick ratio of 0.63 and a current ratio of 0.91. The business has a fifty day moving average price of $17.09 and a 200-day moving average price of $15.48. Extreme Networks, Inc. has a one year low of $10.49 and a one year high of $19.24. The firm has a market cap of $2.25 billion, a PE ratio of -17.53, a price-to-earnings-growth ratio of 3.76 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.