Principal Financial Group Inc. Raises Holdings in Extreme Networks, Inc. $EXTR

Principal Financial Group Inc. increased its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 656,528 shares of the technology company’s stock after buying an additional 17,187 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Extreme Networks worth $9,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pittenger & Anderson Inc. raised its position in Extreme Networks by 300.0% in the first quarter. Pittenger & Anderson Inc. now owns 4,000 shares of the technology company’s stock valued at $60,000 after purchasing an additional 3,000 shares during the period. Fifth Third Bancorp grew its holdings in shares of Extreme Networks by 3,769.7% during the 1st quarter. Fifth Third Bancorp now owns 30,609 shares of the technology company’s stock worth $462,000 after purchasing an additional 29,818 shares during the period. Simplicity Wealth LLC purchased a new position in shares of Extreme Networks during the 1st quarter worth $260,000. Howe & Rusling Inc. increased its position in shares of Extreme Networks by 15.2% during the 1st quarter. Howe & Rusling Inc. now owns 24,105 shares of the technology company’s stock worth $364,000 after purchasing an additional 3,182 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC increased its position in shares of Extreme Networks by 95.5% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 36,640 shares of the technology company’s stock worth $553,000 after purchasing an additional 17,902 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the transaction, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward H. Kennedy sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the sale, the director directly owned 576,045 shares in the company, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 592,182 shares of company stock valued at $15,423,978. 3.60% of the stock is owned by company insiders.

Extreme Networks Price Performance

EXTR opened at $29.49 on Friday. The stock’s 50-day moving average price is $29.61 and its 200 day moving average price is $21.00. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 245.75, a PEG ratio of 1.81 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.Extreme Networks’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Rosenblatt Securities lifted their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

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.