Legato Capital Management LLC Sells 43,855 Shares of Extreme Networks, Inc. $EXTR

Legato Capital Management LLC lessened its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 46.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,405 shares of the technology company's stock after selling 43,855 shares during the quarter. Legato Capital Management LLC's holdings in Extreme Networks were worth $839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of EXTR. Royal Bank of Canada lifted its position in shares of Extreme Networks by 20.8% during the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company's stock worth $974,000 after buying an additional 12,667 shares during the period. AQR Capital Management LLC lifted its position in shares of Extreme Networks by 6.6% during the 1st quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company's stock worth $455,000 after buying an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Extreme Networks by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company's stock worth $1,015,000 after buying an additional 3,349 shares during the period. Millennium Management LLC raised its position in Extreme Networks by 163.0% in the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company's stock valued at $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Extreme Networks by 7.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company's stock valued at $4,226,000 after purchasing an additional 22,209 shares during the last quarter. Institutional investors own 91.05% of the company's stock.

Extreme Networks Stock Performance

EXTR stock opened at $25.60 on Tuesday. The company has a market cap of $3.35 billion, a P/E ratio of 213.33, a PEG ratio of 2.42 and a beta of 1.77. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $25.84. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The business has a fifty day moving average of $18.80 and a 200-day moving average of $16.97.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its 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 company had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. 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 EPS for the current year.

Insider Activity at Extreme Networks

In other news, Director Kathleen M. Holmgren sold 19,521 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the completion of the sale, the director owned 219,308 shares in the company, valued at $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katayoun Motiey sold 7,661 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $25.00, for a total value of $191,525.00. Following the sale, the insider owned 183,782 shares of the company's stock, valued at approximately $4,594,550. The trade was a 4.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 297,182 shares of company stock valued at $6,448,528 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on EXTR shares. Rosenblatt Securities reiterated a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, January 29th. Weiss Ratings downgraded Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. UBS Group set a $28.00 price objective on Extreme Networks in a research report on Thursday, April 30th. B. Riley Financial reiterated a "buy" rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Extreme Networks currently has an average rating of "Moderate Buy" and an average 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.

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.