40,118 Shares in Extreme Networks, Inc. $EXTR Bought by State of Wyoming

State of Wyoming acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 40,118 shares of the technology company’s stock, valued at approximately $1,299,000.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after purchasing an additional 349,199 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of Extreme Networks by 547.7% during the 4th quarter. M&T Bank Corp now owns 77,937 shares of the technology company’s stock valued at $1,298,000 after buying an additional 65,904 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Extreme Networks in the 4th quarter valued at approximately $1,009,000. Penn Capital Management Company LLC increased its holdings in Extreme Networks by 12.9% in the fourth quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock worth $16,378,000 after buying an additional 111,761 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in Extreme Networks by 10.5% during the fourth quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock valued at $15,737,000 after acquiring an additional 90,000 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Up 1.5%

EXTR opened at $24.41 on Friday. The firm has a market cap of $3.19 billion, a P/E ratio of 78.74, a price-to-earnings-growth ratio of 1.61 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. The business has a 50 day moving average price of $29.80 and a 200 day moving average price of $22.19. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly 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 return on equity of 88.88% and a net margin of 3.28%.The company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter last year, the company posted $0.25 earnings per share. The company’s revenue for the quarter 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. Research analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

EXTR has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Rosenblatt Securities reduced their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial increased their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Craig Hallum restated a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Insider Buying and Selling

In related news, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the transaction, the insider directly owned 120,834 shares in the company, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction on 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 owned 151,296 shares in the company, valued at $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 395,000 shares of company stock valued at $11,229,950. Company insiders own 3.60% of the company’s stock.

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.