Madison Asset Management LLC Takes Position in Extreme Networks, Inc. $EXTR

Madison Asset Management LLC bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 93,797 shares of the technology company’s stock, valued at approximately $3,036,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EXTR. Vanguard Group Inc. boosted 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 valued at $318,219,000 after purchasing an additional 349,199 shares during the last quarter. M&T Bank Corp lifted its position 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 worth $1,298,000 after buying an additional 65,904 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Extreme Networks during the fourth quarter valued at approximately $1,009,000. Penn Capital Management Company LLC grew its holdings in Extreme Networks by 12.9% during the 4th quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock valued at $16,378,000 after buying an additional 111,761 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in Extreme Networks by 10.5% during the 4th quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock valued at $15,737,000 after buying an additional 90,000 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Bank of America upped their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Craig Hallum reissued a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a research note on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Insiders Place Their Bets

In other news, insider Katayoun Motiey sold 30,000 shares of the 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 sale, the insider owned 120,834 shares of the company’s stock, valued at approximately $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 395,000 shares of company stock valued at $11,229,950 over the last three months. 3.60% of the stock is owned by company insiders.

Extreme Networks Price Performance

NASDAQ:EXTR opened at $22.32 on Friday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 72.00, a PEG ratio of 1.50 and a beta of 1.79. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The business has a 50 day simple moving average of $29.30 and a 200-day simple moving average of $22.48. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81.

Extreme Networks (NASDAQ:EXTR) last released its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. 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. Equities analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Extreme Networks Profile

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.