Jefferies Financial Group Inc. Acquires Shares of 24,055 Extreme Networks, Inc. $EXTR

Jefferies Financial Group Inc. acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,055 shares of the technology company’s stock, valued at approximately $779,000.

A number of other hedge funds have also recently modified their holdings of EXTR. Public Employees Retirement System of Ohio purchased a new position in Extreme Networks during the second quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new position in Extreme Networks in the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. boosted its position in Extreme Networks by 313.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares in the last quarter. CWM LLC boosted its position in Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,118 shares during the period. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insider Activity

In other news, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction dated 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 in the company, valued at $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin R. Rhodes sold 21,825 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at $4,388,706.90. This represents a 9.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 244,325 shares of company stock worth $7,117,148 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EXTR. B. Riley Financial boosted their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Bank of America increased their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $22.58 on Monday. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 72.84, a PEG ratio of 1.49 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $28.28 and a 200-day simple moving average of $22.80.

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