Extreme Networks, Inc. $EXTR Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 75.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 75,444 shares of the technology company’s stock after selling 232,186 shares during the period. First Trust Advisors LP’s holdings in Extreme Networks were worth $1,138,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in EXTR. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. raised its position in Extreme Networks by 313.7% in 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 during the period. CWM LLC lifted its stake in Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares in the last quarter. Quarry LP boosted its position in shares of Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after buying an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Extreme Networks by 136.8% during the fourth 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 during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Extreme Networks

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Strong quarterly results: Extreme Networks reported fiscal Q4 adjusted EPS of $0.32, ahead of the $0.29 consensus estimate, while revenue of $338.55 million exceeded expectations of $332.49 million and increased 10.3% year over year. The company also issued fiscal 2027 EPS guidance of $1.28-$1.33. Extreme Networks Fiscal Q4 Earnings Snapshot
• Positive Sentiment: B. Riley raised its target: B. Riley Financial increased its price target from $28 to $34 and maintained a “buy” rating, signaling substantial potential upside based on its outlook for EXTR. Extreme Networks Price Target Raised at B. Riley Financial
• Positive Sentiment: Rosenblatt remains bullish: Rosenblatt Securities trimmed its target modestly from $39 to $38 but retained a “buy” rating, indicating continued confidence despite the adjustment.
• Neutral Sentiment: Upcoming investor conferences: Extreme Networks will participate in investor conferences during August and September, giving management opportunities to discuss demand, execution, and its financial outlook with investors. Extreme Networks Announces Investor Conferences
• Negative Sentiment: Insider selling pressured the shares: Reports of insider sales prompted a gap lower, raising concerns about management or other insiders reducing exposure after the stock’s previous rally. Extreme Networks Shares Gap Down on Insider Selling
• Negative Sentiment: Valuation concerns remain: One analysis argues that Extreme Networks is still overvalued even after its pullback. With a high earnings multiple and only modest profitability, investors may be taking profits despite the earnings beat. Extreme Networks Q4 Fine Print But Still Overvalued After the Pullback
• Negative Sentiment: Mixed target revisions: Needham lowered its price target to $35, while the differing analyst revisions suggest expectations remain positive but are not uniformly strengthening. Extreme Networks Price Target Lowered at Needham

Analyst Ratings Changes

EXTR has been the subject of a number of research reports. Craig Hallum reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a research note on Thursday. Bank of America increased their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Lake Street Capital raised their target price on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, June 15th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a research report on Thursday. Finally, Needham & Company LLC cut their price target on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and an average price target of $32.25.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the sale, the chief executive officer owned 1,721,902 shares in the company, valued at $44,941,642.20. This represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 35,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the sale, the chief financial officer directly owned 151,296 shares in the company, valued at $4,603,937.28. This represents a 18.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 422,182 shares of company stock valued at $11,905,205. Company insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $23.97 on Monday. The firm has a 50 day moving average of $30.27 and a two-hundred day moving average of $21.92. The stock has a market capitalization of $3.13 billion, a PE ratio of 77.33, a P/E/G ratio of 1.46 and a beta of 1.79. 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.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. 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, research analysts predict that Extreme Networks, Inc. will post 0.81 EPS for the current fiscal 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.