738,211 Shares in Extreme Networks, Inc. $EXTR Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 738,211 shares of the technology company's stock, valued at approximately $23,896,000. Bank of New York Mellon Corp owned approximately 0.56% of Extreme Networks as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks during the 3rd quarter valued at about $31,000. Rockefeller Capital Management L.P. raised its holdings in Extreme Networks by 313.7% in the 4th 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 during the period. Quarry LP boosted its position in 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 in the last quarter. CWM LLC boosted its position in 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 in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Extreme Networks by 136.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock worth $54,000 after purchasing an additional 1,861 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Price Performance

Extreme Networks stock opened at $22.58 on Monday. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. 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. The company has a fifty day simple moving average of $28.28 and a 200-day simple moving average of $22.80. 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 (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $338.55 million for 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 company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. 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 anticipate that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EXTR shares. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. B. Riley Financial boosted their price target on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Needham & Company LLC reduced their price objective on shares of Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Rosenblatt Securities decreased 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. Finally, Craig Hallum reiterated a "buy" rating and issued a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

Insider Activity

In related news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 1,596,475 shares of the company's stock, valued at approximately $47,558,990.25. This trade represents a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $31.03, for a total value of $930,900.00. Following the transaction, the insider owned 120,834 shares in the company, valued at approximately $3,749,479.02. The trade was a 19.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 244,325 shares of company stock worth $7,117,148 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

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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