Royal Bank of Canada Sells 78,683 Shares of Extreme Networks, Inc. $EXTR

Royal Bank of Canada decreased its stake in Extreme Networks, Inc. (NASDAQ:EXTR) by 27.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,286 shares of the technology company’s stock after selling 78,683 shares during the quarter. Royal Bank of Canada’s holdings in Extreme Networks were worth $3,186,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Extreme Networks during the third quarter worth $31,000. Rockefeller Capital Management L.P. boosted its stake in shares of Extreme Networks by 313.7% in the 4th 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. CWM LLC grew its holdings 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 purchasing an additional 1,084 shares during the last quarter. Quarry LP grew its holdings in shares of Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,861 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXTR has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Bank of America raised their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Needham & Company LLC cut their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, B. Riley Financial boosted their target price on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Insiders Place Their Bets

In related news, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Meyercord sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at $44,941,642.20. This trade represents 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. Over the last three months, insiders sold 395,000 shares of company stock valued at $11,229,950. Insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

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

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

Extreme Networks Company 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.