300,692 Shares in Extreme Networks, Inc. $EXTR Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 300,692 Extreme Networks shares worth approximately $9.7 million, taking a roughly 0.23% stake. Institutional investors and hedge funds collectively own 91.05% of the company.
• Extreme Networks exceeded quarterly expectations, reporting $0.32 in EPS versus the $0.29 consensus and $338.55 million in revenue, up 10.3% year over year.
• Analyst sentiment remains broadly positive, with seven Buy ratings, one Hold, and one Sell; the consensus rating is “Moderate Buy” with a $32.25 price target, despite recent insider selling and the stock trading at $22.49.

Legal & General Group Plc acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 300,692 shares of the technology company's stock, valued at approximately $9,733,000. Legal & General Group Plc owned about 0.23% of Extreme Networks at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock worth $318,219,000 after acquiring an additional 349,199 shares during the last quarter. Penn Capital Management Company LLC lifted its position in Extreme Networks by 12.9% in 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 purchasing an additional 111,761 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Extreme Networks in the 4th quarter valued at about $1,009,000. CenterBook Partners LP lifted its position 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 purchasing an additional 313,595 shares during the last quarter. Finally, Trigran Investments Inc. boosted its stake in Extreme Networks by 4.2% during the 4th quarter. Trigran Investments Inc. now owns 2,285,391 shares of the technology company's stock valued at $38,052,000 after purchasing an additional 92,990 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Katayoun Motiey sold 30,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the transaction, the insider owned 120,834 shares of the company's stock, valued at $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, 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 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 ninety days, insiders have sold 144,325 shares of company stock worth $4,197,148. 3.60% of the stock is owned by company insiders.

Extreme Networks Trading Down 0.4%

Shares of NASDAQ:EXTR opened at $22.49 on Tuesday. The company has a 50 day moving average of $28.09 and a 200-day moving average of $22.85. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.93 billion, a P/E ratio of 72.55, a P/E/G ratio of 1.49 and a beta of 1.79. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.28% and a return on equity of 88.88%. The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. During the same quarter last year, the business earned $0.25 earnings per share. The business'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. As a group, analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on EXTR shares. Rosenblatt Securities dropped their price target on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC reduced their price objective on Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. B. Riley Financial increased their price objective on Extreme Networks from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Finally, Weiss Ratings lowered Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 17th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.25.

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.

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