Oppenheimer Asset Management Inc. Purchases Shares of 90,536 Extreme Networks, Inc. $EXTR

Oppenheimer Asset Management Inc. acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, HoldingsChannel reports. The institutional investor acquired 90,536 shares of the technology company’s stock, valued at approximately $2,931,000.

Several other hedge funds have also modified their holdings of EXTR. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks in the third quarter worth $31,000. Rockefeller Capital Management L.P. raised its stake 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 valued at $33,000 after purchasing an additional 1,484 shares in the last quarter. Quarry LP lifted its position in Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,118 shares during the last quarter. CWM LLC grew its stake in shares of 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 buying an additional 1,084 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after buying an additional 1,861 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Extreme Networks

In other Extreme Networks news, insider Katayoun Motiey sold 30,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $31.03, for a total value of $930,900.00. Following the transaction, the insider owned 120,834 shares of the company’s stock, valued at $3,749,479.02. This represents a 19.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares in the company, valued at approximately $44,941,642.20. The trade was a 5.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 395,000 shares of company stock worth $11,229,950 in the last quarter. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Craig Hallum reiterated a “buy” rating and issued a $31.00 price target on shares of Extreme Networks in a research report on Thursday, August 6th. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research note on Thursday, August 6th. Needham & Company LLC decreased their price objective on Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Rosenblatt Securities decreased their price objective on Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Extreme Networks Stock Up 1.5%

Shares of NASDAQ EXTR opened at $24.41 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 company has a market cap of $3.19 billion, a P/E ratio of 78.74, a PEG ratio of 1.61 and a beta of 1.79. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The firm has a 50-day simple moving average of $29.80 and a two-hundred day simple moving average of $22.19.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (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 business had revenue of $338.55 million during the quarter, compared to analyst estimates of $332.49 million. During the same quarter in the previous year, the business earned $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 anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current 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.