Jefferies Financial Group Inc. Acquires New Stake in Extreme Networks, Inc. $EXTR

Jefferies Financial Group Inc. acquired a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,055 shares of the technology company’s stock, valued at approximately $779,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after buying an additional 349,199 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Extreme Networks during the 4th quarter valued at about $1,009,000. Penn Capital Management Company LLC grew its stake in Extreme Networks by 12.9% during the 4th quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock valued at $16,378,000 after acquiring an additional 111,761 shares in the last quarter. CenterBook Partners LP raised its holdings in Extreme Networks by 278.0% in the 4th quarter. CenterBook Partners LP now owns 426,394 shares of the technology company’s stock valued at $7,099,000 after acquiring an additional 313,595 shares during the last quarter. Finally, Trigran Investments Inc. raised its holdings in Extreme Networks by 4.2% in the 4th quarter. Trigran Investments Inc. now owns 2,285,391 shares of the technology company’s stock valued at $38,052,000 after acquiring an additional 92,990 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EXTR. Craig Hallum restated a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a report on Thursday, August 6th. Weiss Ratings cut Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. B. Riley Financial lifted their price objective on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Bank of America boosted their price objective on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Insider Buying and Selling

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares in the company, valued at $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Meyercord sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total value of $2,920,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,621,902 shares in the company, valued at approximately $47,359,538.40. This trade represents a 5.81% 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 244,325 shares of company stock worth $7,117,148. Company insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $22.58 on Monday. The company’s 50-day moving average is $28.28 and its two-hundred day moving average is $22.80. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 72.84, a PEG ratio of 1.49 and a beta of 1.79.

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