State of Wyoming Purchases Shares of 40,118 Extreme Networks, Inc. $EXTR

State of Wyoming acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 40,118 shares of the technology company’s stock, valued at approximately $1,299,000.

Several other large investors have also modified their holdings of the stock. Alyeska Investment Group L.P. grew its holdings in shares of Extreme Networks by 301.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after acquiring an additional 2,232,373 shares during the last quarter. Jain Global LLC purchased a new stake in shares of Extreme Networks during the fourth quarter valued at $17,361,000. SEB Asset Management AB acquired a new position in shares of Extreme Networks in the 1st quarter valued at $12,192,000. Millennium Management LLC boosted its position in shares of 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 period. Finally, Glenmede Trust Co. NA purchased a new position in Extreme Networks in the 1st quarter worth about $10,129,000. 91.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on EXTR shares. Weiss Ratings upgraded Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Needham & Company LLC decreased their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Rosenblatt Securities dropped their target price on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Lake Street Capital lifted 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. Finally, Bank of America boosted 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. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock 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 the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the transaction, the chief financial officer owned 151,296 shares in the company, valued at $4,603,937.28. This represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction that occurred on 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 directly owned 1,721,902 shares of the company’s stock, valued at $44,941,642.20. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 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 corporate insiders.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $24.41 on Friday. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $33.73. 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 stock has a market cap of $3.19 billion, a PE ratio of 78.74, a price-to-earnings-growth ratio of 1.61 and a beta of 1.79. The business has a fifty day simple moving average of $29.80 and a 200-day simple moving average of $22.19.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $338.55 million for the quarter, compared to analyst estimates 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 firm earned $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. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 EPS 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.