Louisiana State Employees Retirement System Acquires New Holdings in Extreme Networks, Inc. $EXTR

Louisiana State Employees Retirement System bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 59,500 shares of the technology company’s stock, valued at approximately $897,000.

Several other hedge funds also recently bought and sold shares of the company. OP Asset Management Ltd acquired a new position in shares of Extreme Networks in the 1st quarter valued at $8,173,000. Diversified Trust Co raised its stake in Extreme Networks by 184.8% during the 1st quarter. Diversified Trust Co now owns 31,528 shares of the technology company’s stock worth $475,000 after buying an additional 20,459 shares during the period. Rockefeller Capital Management L.P. lifted 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 worth $33,000 after acquiring an additional 1,484 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Extreme Networks by 89.1% during the fourth quarter. Pacer Advisors Inc. now owns 14,026 shares of the technology company’s stock worth $234,000 after acquiring an additional 6,609 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Extreme Networks by 16.9% in the fourth quarter. Invesco Ltd. now owns 1,168,651 shares of the technology company’s stock valued at $19,458,000 after acquiring an additional 168,998 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Extreme Networks

In other Extreme Networks news, Director Kathleen M. Holmgren sold 19,521 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the completion of the transaction, the director owned 219,308 shares of the company’s stock, valued at $5,434,452.24. This represents a 8.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the transaction, the chief executive officer directly owned 1,621,902 shares of the company’s stock, valued at $47,359,538.40. This represents a 5.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is currently owned by insiders.

Extreme Networks Stock Performance

EXTR opened at $29.80 on Monday. The business’s 50-day moving average price is $26.84 and its two-hundred day moving average price is $19.52. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.10. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 248.33, a P/E/G ratio of 1.83 and a beta of 1.77. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.Extreme Networks’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EXTR shares. Needham & Company LLC increased their price target on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. UBS Group set a $28.00 target price on Extreme Networks in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, Bank of America lifted 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. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.83.

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.