BNP Paribas Financial Markets Raises Stock Position in Extreme Networks, Inc. $EXTR

Key Points

• BNP Paribas Financial Markets increased its Extreme Networks stake by 67.4% in the fourth quarter, buying 338,691 additional shares and ending with 841,004 shares worth about $14 million.
• Extreme Networks reported better-than-expected quarterly results, with EPS of $0.26 versus $0.24 expected and revenue of $316.87 million versus $311.48 million expected. Revenue rose 11.4% year over year.
• The stock has seen mixed signals from insiders and analysts: CEO Edward Meyercord and another insider sold shares recently, while analysts currently hold a Moderate Buy consensus with an average price target of $25.50.

BNP Paribas Financial Markets boosted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 67.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 841,004 shares of the technology company's stock after acquiring an additional 338,691 shares during the period. BNP Paribas Financial Markets owned about 0.63% of Extreme Networks worth $14,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EXTR. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extreme Networks in the third quarter valued at approximately $31,000. CWM LLC raised its position in shares of Extreme Networks by 51.7% in the fourth 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 last quarter. Quarry LP raised its position in shares of Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after buying an additional 1,118 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Extreme Networks in the third quarter worth about $70,000. Finally, Quadrant Capital Group LLC purchased a new position in shares of Extreme Networks in the third quarter worth about $91,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

Extreme Networks Price Performance

Extreme Networks stock opened at $28.02 on Monday. The company's 50 day simple moving average is $21.11 and its 200-day simple moving average is $17.62. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 233.50, a price-to-earnings-growth ratio of 2.65 and a beta of 1.80. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $29.77. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $316.87 million during the quarter, compared to analysts' expectations of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the transaction, the chief executive officer owned 1,721,902 shares of the company's stock, valued at approximately $44,941,642.20. This trade represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 15,000 shares of Extreme Networks stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.50, for a total transaction of $397,500.00. Following the completion of the transaction, the insider owned 173,334 shares of the company's stock, valued at $4,593,351. This trade represents a 7.96% decrease in their position. 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 569,682 shares of company stock valued at $13,968,028. Corporate insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

EXTR has been the topic of several recent research reports. Lake Street Capital restated a "buy" rating and set a $25.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. UBS Group set a $28.00 price target on Extreme Networks in a report on Thursday, April 30th. Weiss Ratings downgraded Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 24th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.50.

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.

Want to see what other hedge funds are holding EXTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Extreme Networks, Inc. (NASDAQ:EXTR - Free Report).

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.