Quantbot Technologies LP Buys New Stake in Extreme Networks, Inc. $EXTR

Quantbot Technologies LP bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,468 shares of the technology company’s stock, valued at approximately $824,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in shares of Extreme Networks during the second quarter worth $229,000. Callan Family Office LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter worth $869,000. Green Alpha Advisors LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter worth $800,000. Allworth Financial LP purchased a new position in Extreme Networks during the 2nd quarter worth $105,000. Finally, Virtus Advisers LLC acquired a new position in Extreme Networks during the 2nd quarter valued at about $743,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EXTR shares. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Rosenblatt Securities cut their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. B. Riley Financial increased their price objective on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Finally, UBS Group set a $28.00 target price on shares of Extreme Networks in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Insider Activity

In other news, insider Katayoun Motiey sold 30,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the sale, the insider directly owned 120,834 shares of the company’s stock, valued at $3,749,479.02. This represents a 19.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction on 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 owned 1,596,475 shares in the company, valued at $47,558,990.25. The trade was a 3.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 301,825 shares of company stock valued at $8,709,148 in the last ninety days. Insiders own 3.60% of the company’s stock.

Extreme Networks Trading Up 0.9%

Shares of NASDAQ:EXTR opened at $22.84 on Thursday. 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 stock has a market cap of $2.98 billion, a price-to-earnings ratio of 73.68, a PEG ratio of 1.49 and a beta of 1.79. The business has a 50-day moving average price of $28.62 and a 200-day moving average price of $22.70.

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 analyst estimates of $332.49 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Extreme Networks’s revenue for the quarter 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. Equities analysts predict that Extreme Networks, Inc. will post 0.75 EPS for the current 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.