Royal Bank of Canada Sells 78,683 Shares of Extreme Networks, Inc. $EXTR

Key Points

• Royal Bank of Canada reduced its Extreme Networks stake by 27.1%, selling 78,683 shares in the first quarter and retaining 211,286 shares valued at approximately $3.19 million. Institutional investors own 91.05% of the company.
• Extreme Networks exceeded quarterly expectations, reporting earnings of $0.32 per share and revenue of $338.55 million, up 10.3% year over year. The company provided fiscal 2027 EPS guidance of $1.28–$1.33.
• Analyst sentiment remains favorable, with seven Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a target price of $32.25. However, company insiders sold 395,000 shares worth $11.23 million over the past 90 days.

Royal Bank of Canada trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 27.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,286 shares of the technology company's stock after selling 78,683 shares during the quarter. Royal Bank of Canada owned about 0.16% of Extreme Networks worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EXTR. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks during the third quarter valued at about $31,000. Rockefeller Capital Management L.P. lifted 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 purchasing an additional 1,484 shares during the last quarter. CWM LLC lifted its position in shares of Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock worth $53,000 after purchasing an additional 1,084 shares during the last quarter. Quarry LP boosted its stake in Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,861 shares during the period. 91.05% of the stock is owned by institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $24.41 on Friday. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The firm has a market capitalization of $3.19 billion, a PE ratio of 78.74, a PEG ratio of 1.61 and a beta of 1.79. The business's 50 day moving average is $29.80 and its 200-day moving average is $22.19. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analysts' expectations of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.Extreme Networks's quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. 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 predict that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Analyst Ratings Changes

EXTR has been the subject of several research reports. Oppenheimer reissued an "outperform" rating on shares of Extreme Networks in a research report on Thursday, August 6th. B. Riley Financial boosted their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Needham & Company LLC cut their target price on shares of Extreme Networks from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Rosenblatt Securities reduced their price target on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.25.

Insider Buying and Selling at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the sale, the chief financial officer directly owned 151,296 shares in the company, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks 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 sale, the insider owned 120,834 shares in the company, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 395,000 shares of company stock valued at $11,229,950 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

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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