Green Alpha Advisors LLC Takes Position in Extreme Networks, Inc. $EXTR

Green Alpha Advisors LLC bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, Holdings Channel reports. The fund bought 24,725 shares of the technology company’s stock, valued at approximately $800,000.

Several other institutional investors also recently modified their holdings of the business. Allworth Financial LP acquired a new position in Extreme Networks in the second quarter valued at approximately $105,000. Virtus Advisers LLC bought a new position in Extreme Networks in the second quarter valued at approximately $743,000. Vise Technologies Inc. acquired a new stake in Extreme Networks during the 2nd quarter worth $412,000. Aurora Investment Counsel acquired a new stake in Extreme Networks during the 2nd quarter worth $2,456,000. Finally, Madison Asset Management LLC bought a new stake in shares of Extreme Networks during the 2nd quarter valued at $3,036,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity

In other news, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at $44,941,642.20. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This represents a 18.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 416,825 shares of company stock worth $11,716,648 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXTR. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Craig Hallum reaffirmed a “buy” rating and set a $31.00 price objective on shares of Extreme Networks in a research note on Thursday, August 6th. Needham & Company LLC dropped their price objective on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Lake Street Capital raised their target price on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Rosenblatt Securities lowered their price target on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Extreme Networks Trading Up 3.1%

NASDAQ:EXTR opened at $23.02 on Friday. 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 business’s 50-day simple moving average is $29.14 and its 200-day simple moving average is $22.48. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $33.73. The stock has a market capitalization of $3.00 billion, a PE ratio of 74.26, a price-to-earnings-growth ratio of 1.47 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior 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. Sell-side analysts expect that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

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.