Extreme Networks, Inc. $EXTR Shares Acquired by Trigran Investments Inc.

Key Points

• Trigran Investments increased its stake in Extreme Networks by 4.2% in the fourth quarter, bringing its holdings to 2.29 million shares worth about $38.1 million. The stock now makes up roughly 7.5% of Trigran’s portfolio.
• Institutional ownership in Extreme Networks remains very high, with 91.05% of shares held by hedge funds and other institutions. Several firms, including Vanguard, also added to their positions during recent quarters.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus and a target price of $29.33, though insider selling has been notable, including CEO Edward Meyercord’s 100,000-share sale in June.

Trigran Investments Inc. grew its holdings in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,285,391 shares of the technology company's stock after buying an additional 92,990 shares during the period. Extreme Networks accounts for about 7.5% of Trigran Investments Inc.'s holdings, making the stock its 7th biggest holding. Trigran Investments Inc. owned 1.70% of Extreme Networks worth $38,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXTR. Vanguard Group Inc. increased its position in shares of Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock valued at $318,219,000 after acquiring an additional 349,199 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Extreme Networks by 73,806.7% during the third quarter. Hillsdale Investment Management Inc. now owns 332,580 shares of the technology company's stock valued at $6,868,000 after acquiring an additional 332,130 shares during the last quarter. M&T Bank Corp increased its position in shares of Extreme Networks by 547.7% during the fourth quarter. M&T Bank Corp now owns 77,937 shares of the technology company's stock valued at $1,298,000 after acquiring an additional 65,904 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Extreme Networks during the fourth quarter valued at about $1,009,000. Finally, Counterpoint Mutual Funds LLC increased its position in shares of Extreme Networks by 203.7% during the third quarter. Counterpoint Mutual Funds LLC now owns 132,439 shares of the technology company's stock valued at $2,735,000 after acquiring an additional 88,835 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EXTR shares. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 24th. Needham & Company LLC upped their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 15th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. Six 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $29.33.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the sale, the chief executive officer directly owned 1,621,902 shares of the company's stock, valued at $47,359,538.40. This trade represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the sale, the insider directly owned 120,834 shares in the company, valued at $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 642,182 shares of company stock valued at $16,188,978 in the last quarter. Insiders own 3.60% of the company's stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $31.11 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $31.57. The stock has a market cap of $4.07 billion, a PE ratio of 259.25, a price-to-earnings-growth ratio of 2.94 and a beta of 1.81. The firm's fifty day simple moving average is $22.58 and its 200-day simple moving average is $18.07.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $316.87 million for 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 business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

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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