Amundi Trims Stock Holdings in Extreme Networks, Inc. $EXTR

Key Points

• Amundi cut its Extreme Networks stake by 66.8% in the second quarter, selling 251,784 shares and retaining 125,186 shares worth about $4.05 million. Meanwhile, institutional ownership reached 91.05%, with major firms including BlackRock and California State Teachers Retirement System increasing or initiating positions.
• Extreme Networks reported quarterly EPS of $0.32, exceeding the $0.29 consensus estimate, while revenue rose 10.3% year over year to $338.55 million. The company issued fiscal 2027 EPS guidance of $1.28–$1.33.
• Analysts maintain a generally positive view, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and a $32.25 target price. However, the CEO and CFO recently sold shares under pre-arranged Rule 10b5-1 trading plans.

Amundi lowered its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 66.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,186 shares of the technology company's stock after selling 251,784 shares during the period. Amundi owned approximately 0.10% of Extreme Networks worth $4,052,000 at the end of the most recent quarter.

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

Extreme Networks Stock Performance

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 fifty day moving average of $26.40 and a 200-day moving average of $23.26. The company has a market capitalization of $2.90 billion, a P/E ratio of 71.62, a P/E/G ratio of 1.46 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.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results 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 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 analysts' expectations of $332.49 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The firm's 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. As a group, equities research analysts predict that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was 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 directly owned 1,596,475 shares in the company, valued at $47,558,990.25. This represents a 3.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 firm'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 value of $486,697.50. Following the transaction, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. The trade was 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. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EXTR shares. Lake Street Capital increased their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Bank of America boosted their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Needham & Company LLC cut their price target on shares of Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Rosenblatt Securities decreased their price target 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, Oppenheimer reaffirmed an "outperform" rating on shares of Extreme Networks in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $32.25.

Extreme Networks Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.