Connor Clark & Lunn Investment Management Ltd. Takes Position in Extreme Networks, Inc. $EXTR

Connor Clark & Lunn Investment Management Ltd. bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, Holdings Channel reports. The firm bought 673,134 shares of the technology company’s stock, valued at approximately $21,789,000.

Other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in Extreme Networks in the 3rd quarter valued at $31,000. Rockefeller Capital Management L.P. boosted its stake in Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $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% during the fourth 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% during the third 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 stake in shares of Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock valued at $54,000 after buying an additional 1,861 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Needham & Company LLC cut their price target on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Lake Street Capital raised their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Bank of America upped their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and an average price target of $32.25.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction that occurred on Monday, August 3rd. The shares were 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $486,697.50. Following the sale, the chief financial officer directly 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. 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. In the last three months, insiders sold 301,825 shares of company stock valued at $8,709,148. 3.60% of the stock is currently owned by insiders.

Extreme Networks Stock Up 1.1%

Shares of EXTR opened at $22.63 on Wednesday. The business’s fifty day moving average price is $28.78 and its two-hundred day moving average price is $22.64. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 73.00, a PEG ratio of 1.47 and a beta of 1.79. Extreme Networks, Inc. has a 52 week low of $13.48 and a 52 week high of $33.73. 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 (NASDAQ:EXTR) last released its earnings results 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 company had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. 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, analysts predict that Extreme Networks, Inc. will post 0.75 earnings per share for the current 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.