Green Alpha Advisors LLC Buys New Shares in Extreme Networks, Inc. $EXTR

Green Alpha Advisors LLC bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,725 shares of the technology company’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after purchasing an additional 349,199 shares in the last quarter. M&T Bank Corp raised its stake in shares of Extreme Networks by 547.7% in the fourth quarter. M&T Bank Corp now owns 77,937 shares of the technology company’s stock valued at $1,298,000 after purchasing an additional 65,904 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Extreme Networks in the fourth quarter valued at $1,009,000. Penn Capital Management Company LLC lifted its position in Extreme Networks by 12.9% in the fourth quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock worth $16,378,000 after purchasing an additional 111,761 shares during the period. Finally, Impax Asset Management Group plc lifted its position in Extreme Networks by 10.5% in the fourth quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock worth $15,737,000 after purchasing an additional 90,000 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin R. Rhodes sold 35,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. This represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the sale, the insider owned 120,834 shares of the company’s stock, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 416,825 shares of company stock valued at $11,716,648. 3.60% of the stock is currently owned by corporate insiders.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $23.02 on Friday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 74.26, a PEG ratio of 1.47 and a beta of 1.79. The company has a 50 day moving average of $29.14 and a 200-day moving average of $22.48. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.Extreme Networks’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Lake Street Capital raised their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Needham & Company LLC decreased their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, B. Riley Financial increased their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and an average price target of $32.25.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company’s product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme’s Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.

Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.