Bank of America Corp DE Raises Stake in Extreme Networks, Inc. $EXTR

Bank of America Corp DE increased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 73.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 757,072 shares of the technology company's stock after buying an additional 320,743 shares during the quarter. Bank of America Corp DE owned 0.58% of Extreme Networks worth $11,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EXTR. Envestnet Asset Management Inc. raised its stake in Extreme Networks by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock worth $470,000 after purchasing an additional 683 shares during the period. ProShare Advisors LLC increased its position in Extreme Networks by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock worth $426,000 after purchasing an additional 735 shares during the period. PNC Financial Services Group Inc. lifted its stake in Extreme Networks by 7.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company's stock valued at $166,000 after buying an additional 735 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Extreme Networks by 3.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,633 shares of the technology company's stock valued at $510,000 after purchasing an additional 900 shares during the period. Finally, CWM LLC grew its stake in shares of Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after buying an additional 1,084 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $23.02 on Friday. The stock's fifty day moving average is $29.14 and its 200 day moving average is $22.48. The firm has a market capitalization of $3.00 billion, a PE ratio of 74.26, a PEG ratio of 1.52 and a beta of 1.79. 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, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $33.73.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.25 EPS. The business'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, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other Extreme Networks news, insider Katayoun Motiey sold 30,000 shares of the company's stock in a transaction dated 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 directly owned 120,834 shares of the company's stock, valued at $3,749,479.02. This represents a 19.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin R. Rhodes sold 35,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the transaction, the chief financial officer directly owned 151,296 shares of the company's stock, valued at $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 416,825 shares of company stock valued at $11,716,648. 3.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on EXTR. Bank of America lifted their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Needham & Company LLC cut their target price on shares of Extreme Networks from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Rosenblatt Securities dropped their price target on Extreme Networks from $39.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. B. Riley Financial upped their target price on Extreme Networks from $28.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Oppenheimer reiterated 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Extreme Networks currently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

About Extreme Networks

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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