Simplicity Wealth LLC Makes New Investment in Extreme Networks, Inc. $EXTR

Simplicity Wealth LLC acquired a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,495 shares of the technology company’s stock, valued at approximately $728,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp bought a new stake in Extreme Networks during the second quarter worth about $23,896,000. State of Wyoming bought a new position in Extreme Networks in the second quarter valued at approximately $1,299,000. Stoneridge Investment Partners LLC acquired a new position in shares of Extreme Networks during the 2nd quarter worth approximately $216,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Extreme Networks during the 2nd quarter worth approximately $2,931,000. Finally, Handelsbanken Fonder AB raised its stake in shares of Extreme Networks by 21.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 50,500 shares of the technology company’s stock worth $1,635,000 after purchasing an additional 8,800 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EXTR shares. Craig Hallum reissued a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a report on Thursday, August 6th. Rosenblatt Securities lowered their target price on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Needham & Company LLC dropped their price target on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Finally, B. Riley Financial lifted their price objective on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Seven 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, Extreme Networks has an average rating of “Moderate Buy” and an average price target of $32.25.

Extreme Networks Stock Performance

EXTR opened at $24.28 on Tuesday. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 78.33, a PEG ratio of 1.61 and a beta of 1.79. The business has a 50 day moving average of $29.70 and a 200-day moving average of $22.30. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. 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, equities research analysts expect that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 151,296 shares of the company’s stock, valued at $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katayoun Motiey sold 30,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the transaction, the insider owned 120,834 shares in the company, valued at approximately $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. Insiders sold a total of 395,000 shares of company stock valued at $11,229,950 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

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.