Louisiana State Employees Retirement System Buys New Stake in Extreme Networks, Inc. $EXTR

Key Points

• Louisiana State Employees Retirement System initiated a new position in Extreme Networks during the first quarter, buying 59,500 shares valued at about $897,000.
• Analysts remain generally positive on the stock, with several firms raising price targets; the current consensus rating is Moderate Buy with an average target price of $30.83.
• Insider selling has been notable, including CEO Edward Meyercord and insider Katayoun Motiey, while Extreme Networks recently beat quarterly earnings and revenue estimates and posted 11.4% year-over-year revenue growth.

Louisiana State Employees Retirement System purchased a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,500 shares of the technology company's stock, valued at approximately $897,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock valued at $318,219,000 after buying an additional 349,199 shares in the last quarter. M&T Bank Corp lifted its position in Extreme Networks by 547.7% during the 4th quarter. M&T Bank Corp now owns 77,937 shares of the technology company's stock worth $1,298,000 after buying an additional 65,904 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Extreme Networks during the 4th quarter worth about $1,009,000. Algert Global LLC grew its holdings in Extreme Networks by 49.6% during the 3rd quarter. Algert Global LLC now owns 933,067 shares of the technology company's stock worth $19,268,000 after acquiring an additional 309,169 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in Extreme Networks by 10.5% during the 4th quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company's stock worth $15,737,000 after acquiring an additional 90,000 shares during the last quarter. Institutional investors own 91.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EXTR shares. Lake Street Capital upped their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, June 15th. Bank of America raised their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the company a "buy" rating in a report on Monday, June 8th. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 24th. UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. Six investment 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.83.

Insider Buying and Selling at Extreme Networks

In other news, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $2,920,000.00. Following the transaction, the chief executive officer owned 1,621,902 shares of the company's stock, valued at $47,359,538.40. This represents a 5.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 on Friday, June 12th. The stock was sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the transaction, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is currently owned by insiders.

Extreme Networks Price Performance

Shares of NASDAQ EXTR opened at $29.80 on Monday. The firm has a market capitalization of $3.90 billion, a PE ratio of 248.33, a price-to-earnings-growth ratio of 1.83 and a beta of 1.77. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.10. The firm's 50-day moving average is $26.84 and its 200-day moving average is $19.52.

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. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. During the same period in the previous year, the firm posted $0.21 earnings per share. Extreme Networks's revenue for the quarter was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current year.

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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