Engineers Gate Manager LP Has $5.31 Million Holdings in Extreme Networks, Inc. $EXTR

Engineers Gate Manager LP decreased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 67.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,025 shares of the technology company’s stock after selling 345,219 shares during the quarter. Engineers Gate Manager LP owned 0.13% of Extreme Networks worth $5,309,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EXTR. BlackRock Inc. acquired a new position in shares of Extreme Networks in the 2nd quarter valued at approximately $674,661,000. California State Teachers Retirement System boosted its position in shares of Extreme Networks by 3,051.6% during the 2nd quarter. California State Teachers Retirement System now owns 5,121,420 shares of the technology company’s stock worth $158,215,000 after acquiring an additional 4,958,920 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new position in Extreme Networks in the second quarter valued at approximately $137,291,000. Alyeska Investment Group L.P. increased its stake in Extreme Networks by 301.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after acquiring an additional 2,232,373 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Extreme Networks in the second quarter valued at approximately $45,531,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Stock Up 4.8%

Shares of NASDAQ:EXTR opened at $22.20 on Friday. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. The company has a market capitalization of $2.90 billion, a PE ratio of 71.62, a price-to-earnings-growth ratio of 1.39 and a beta of 1.76. 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 company has a fifty day moving average of $26.40 and a 200-day moving average of $23.26.

Extreme Networks (NASDAQ:EXTR) last issued 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. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. During the same quarter in the previous year, the company posted $0.25 EPS. Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. 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 analysts predict that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $29.79, for a total value of $1,489,500.00. Following the completion of the transaction, the chief executive officer owned 1,596,475 shares in the company, valued at $47,558,990.25. This trade represents a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Extreme Networks stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their ownership of the stock. 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. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in 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. B. Riley Financial lifted their price target on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Rosenblatt Securities lowered their price target on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Finally, Needham & Company LLC reduced their price objective on 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) provides cloud-driven networking solutions for enterprises and organizations. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, wireless access points, routers, network management software, analytics, and security tools designed to help customers build, monitor, and operate modern networks.

The company’s cloud networking offerings include ExtremeCloud IQ, a platform for managing and analyzing network environments across distributed locations.