Legal & General Group Plc Buys New Shares in Extreme Networks, Inc. $EXTR

Legal & General Group Plc bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 300,692 shares of the technology company’s stock, valued at approximately $9,733,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after buying an additional 12,667 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Extreme Networks by 6.6% in the 1st quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock worth $455,000 after acquiring an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Extreme Networks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after acquiring an additional 3,349 shares during the last quarter. Millennium Management LLC raised its position in shares of Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock worth $4,226,000 after purchasing an additional 22,209 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Insider Activity

In other news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction dated 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 in the company, valued at $47,558,990.25. The trade was a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $22.30, for a total value of $486,697.50. Following the completion of the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. The trade was a 9.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 144,325 shares of company stock worth $4,197,148 in the last three months. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on EXTR shares. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Rosenblatt Securities reduced 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. Lake Street Capital raised their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, B. Riley Financial lifted their price objective 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. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Extreme Networks currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $22.49 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The business has a fifty day simple moving average of $28.09 and a 200 day simple moving average of $22.85. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 72.55, a P/E/G ratio of 1.49 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s quarterly revenue 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. As a group, sell-side analysts predict that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

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.