Central Pacific Bank Trust Division Makes New $267,000 Investment in Extreme Networks, Inc. (NASDAQ:EXTR)

Central Pacific Bank Trust Division purchased a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,954 shares of the technology company’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rubric Capital Management LP lifted its position in Extreme Networks by 52.3% during the second quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock valued at $70,676,000 after purchasing an additional 1,804,744 shares during the last quarter. State Street Corp lifted its holdings in shares of Extreme Networks by 1.0% during the 3rd quarter. State Street Corp now owns 5,134,008 shares of the technology company’s stock worth $77,164,000 after acquiring an additional 49,905 shares during the last quarter. Victory Capital Management Inc. increased its stake in Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares during the last quarter. William Blair Investment Management LLC bought a new position in Extreme Networks in the second quarter valued at $25,409,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Extreme Networks by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,633 shares of the technology company’s stock worth $17,429,000 after purchasing an additional 8,169 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EXTR. StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of Extreme Networks in a report on Wednesday, November 6th. Craig Hallum lifted their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, B. Riley upped their price target on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Extreme Networks Price Performance

Shares of Extreme Networks stock opened at $16.68 on Friday. The company’s fifty day simple moving average is $16.72 and its two-hundred day simple moving average is $15.07. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $19.24. The firm has a market cap of $2.20 billion, a PE ratio of -17.20, a price-to-earnings-growth ratio of 3.87 and a beta of 1.75. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Charles Carinalli sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $16.70, for a total value of $83,500.00. Following the completion of the transaction, the director now directly owns 366,793 shares in the company, valued at approximately $6,125,443.10. This represents a 1.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,725 shares of company stock worth $863,546. Company insiders own 3.70% of the company’s stock.

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.