Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Extreme Networks, Inc. $EXTR

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 673,134 shares of the technology company’s stock, valued at approximately $21,789,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.51% of Extreme Networks as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks during the third quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its holdings in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,484 shares during the last quarter. Quarry LP raised its position in shares of Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,118 shares during the period. CWM LLC raised its position in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after purchasing an additional 1,084 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in shares of Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after buying an additional 1,861 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Buying and Selling at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the transaction, the chief financial officer directly owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. This trade represents a 18.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 301,825 shares of company stock valued at $8,709,148 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC dropped their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. B. Riley Financial upped their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Trading Up 1.1%

Shares of Extreme Networks stock opened at $22.63 on Wednesday. The company’s fifty day simple moving average is $28.78 and its 200-day simple moving average is $22.64. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 73.00, a PEG ratio of 1.47 and a beta of 1.79. 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 released its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The firm had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue 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. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Extreme Networks Company 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.