Deutsche Bank AG Invests $11.24 Million in Extreme Networks, Inc. $EXTR

Key Points

• Deutsche Bank acquired 347,234 shares of Extreme Networks worth approximately $11.24 million, giving it a 0.27% stake. Institutional investors collectively own 91.05% of the company.
• Analysts maintain a generally positive view, with seven Buy ratings, one Hold, and one Sell; the stock has a consensus rating of Moderate Buy and an average price target of $32.25.
• Extreme Networks exceeded quarterly expectations, reporting $0.32 in EPS versus $0.29 expected and revenue of $338.55 million, up 10.3% year over year. Meanwhile, insiders sold 416,825 shares worth $11.72 million over the past three months.

Deutsche Bank AG bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 347,234 shares of the technology company's stock, valued at approximately $11,240,000. Deutsche Bank AG owned 0.27% of Extreme Networks at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Extreme Networks during the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its position in shares of Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock worth $33,000 after buying an additional 1,484 shares during the period. CWM LLC increased its stake in shares of Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after acquiring an additional 1,084 shares in the last quarter. Quarry LP increased its stake in shares of Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Extreme Networks by 136.8% in the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock valued at $54,000 after acquiring an additional 1,861 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on EXTR. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Rosenblatt Securities decreased their price target on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Craig Hallum restated a "buy" rating and issued a $31.00 target price on shares of Extreme Networks in a research note on Thursday, August 6th. Finally, Needham & Company LLC reduced their target price on Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

Insider Buying and Selling at Extreme Networks

In other news, insider Katayoun Motiey sold 30,000 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the sale, the insider directly owned 120,834 shares of the company's stock, valued at $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward Meyercord sold 100,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares in the company, valued at $44,941,642.20. This represents a 5.49% 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. Over the last three months, insiders have sold 416,825 shares of company stock valued at $11,716,648. Corporate insiders own 3.60% of the company's stock.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $23.02 on Monday. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The stock's 50 day moving average is $29.14 and its 200-day moving average is $22.54. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 74.26, a PEG ratio of 1.52 and a beta of 1.79.

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 (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $338.55 million during 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%. Extreme Networks's revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. 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. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Extreme Networks 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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