Quantbot Technologies LP Makes New $824,000 Investment in Extreme Networks, Inc. $EXTR

Quantbot Technologies LP acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,468 shares of the technology company’s stock, valued at approximately $824,000.

Several other institutional investors have also recently made changes to their positions in EXTR. First Bank & Trust lifted its stake in shares of Extreme Networks by 2.4% in the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock valued at $427,000 after purchasing an additional 306 shares during the period. GAMMA Investing LLC grew 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 buying an additional 465 shares during the period. Envestnet Asset Management Inc. increased 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 buying an additional 683 shares in the last quarter. ProShare Advisors LLC increased 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 buying an additional 735 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of 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 acquiring an additional 735 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $1,489,500.00. Following the sale, the chief executive officer directly owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. The trade was a 3.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the sale, the chief financial officer owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. This trade represents a 9.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 301,825 shares of company stock worth $8,709,148. Insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $22.84 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market capitalization of $2.98 billion, a PE ratio of 73.68, a P/E/G ratio of 1.49 and a beta of 1.79. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $33.73. The company has a fifty day moving average of $28.62 and a two-hundred day moving average of $22.70.

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. The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business 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. As a group, research analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EXTR shares. Lake Street Capital increased their target price 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. Craig Hallum restated a “buy” rating and issued a $31.00 price target on shares of Extreme Networks in a research note on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Finally, Bank of America raised their price objective on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.