Paradigm Capital Management Inc. NY Acquires Shares of 4,241,300 Extreme Networks, Inc. $EXTR

Paradigm Capital Management Inc. NY acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,241,300 shares of the technology company’s stock, valued at approximately $137,291,000. Extreme Networks accounts for approximately 3.7% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 8th largest position. Paradigm Capital Management Inc. NY owned 3.24% of Extreme Networks at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock valued at $318,219,000 after acquiring an additional 349,199 shares during the last quarter. M&T Bank Corp lifted its holdings 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 acquiring an additional 65,904 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $1,009,000. Penn Capital Management Company LLC boosted its stake in shares of Extreme Networks by 12.9% in 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 purchasing an additional 111,761 shares in the last quarter. Finally, CenterBook Partners LP grew its holdings in shares of Extreme Networks by 278.0% during the 4th quarter. CenterBook Partners LP now owns 426,394 shares of the technology company’s stock valued at $7,099,000 after purchasing an additional 313,595 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Price Performance

Extreme Networks stock opened at $22.38 on Tuesday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 72.20, a PEG ratio of 1.52 and a beta of 1.79. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. The stock’s 50 day moving average price is $28.96 and its two-hundred day moving average price is $22.59. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last issued 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. The company had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $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 analysts predict that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EXTR. Bank of America boosted their price target on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. UBS Group set a $28.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. Finally, Rosenblatt Securities decreased their price target on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Insider Activity

In other news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the completion of the sale, the chief executive officer directly owned 1,596,475 shares of the company’s stock, valued at $47,558,990.25. This trade represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 sale, the insider owned 120,834 shares of the company’s stock, valued at $3,749,479.02. This trade represents a 19.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 301,825 shares of company stock worth $8,709,148 over the last quarter. Insiders own 3.60% of the company’s stock.

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.