Madison Asset Management LLC Makes New Investment in Extreme Networks, Inc. $EXTR

Madison Asset Management LLC bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 93,797 shares of the technology company’s stock, valued at approximately $3,036,000. Madison Asset Management LLC owned about 0.07% of Extreme Networks at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Bank & Trust grew its holdings in shares of Extreme Networks by 2.4% in the second quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock worth $427,000 after acquiring an additional 306 shares during the period. GAMMA Investing LLC increased its position in Extreme Networks by 13.2% during the second quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company’s stock valued at $130,000 after acquiring an additional 465 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Extreme Networks by 3.1% in the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock valued at $470,000 after acquiring an additional 683 shares during the period. ProShare Advisors LLC lifted its holdings in Extreme Networks by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock valued at $426,000 after acquiring an additional 735 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Extreme Networks by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock worth $166,000 after purchasing an additional 735 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Stock Down 2.1%

NASDAQ EXTR opened at $22.32 on Friday. The stock’s 50-day moving average price is $29.30 and its 200-day moving average price is $22.48. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. Extreme Networks, Inc. has a 52 week low of $13.48 and a 52 week high of $33.73. The company has a market capitalization of $2.91 billion, a P/E ratio of 72.00, a price-to-earnings-growth ratio of 1.50 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 was up 10.3% on a year-over-year basis. During the same period in the previous year, the company 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 research analysts predict that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 100,000 shares of the firm’s 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 sale, the chief executive officer directly owned 1,721,902 shares in the company, valued at $44,941,642.20. This trade represents a 5.49% decrease in their position. The sale was disclosed in a document filed 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 Extreme Networks 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 transaction, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. This trade represents a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 395,000 shares of company stock valued at $11,229,950 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Lake Street Capital upped their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 15th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Craig Hallum reaffirmed a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. Bank of America increased their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.25.

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.