Paradigm Capital Management Inc. NY Takes $137.29 Million Position in Extreme Networks, Inc. $EXTR

Paradigm Capital Management Inc. NY purchased a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,241,300 shares of the technology company’s stock, valued at approximately $137,291,000. Extreme Networks accounts for approximately 3.7% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 8th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Extreme Networks in the 2nd quarter worth about $284,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Extreme Networks during the second quarter valued at about $21,789,000. Globeflex Capital L P bought a new stake in shares of Extreme Networks during the second quarter valued at about $315,000. Quantbot Technologies LP purchased a new stake in shares of Extreme Networks in the second quarter worth about $824,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Extreme Networks in the second quarter valued at approximately $229,000. Institutional investors own 91.05% of the company’s stock.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 50,000 shares of Extreme Networks stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total value of $1,489,500.00. Following the sale, the chief executive officer directly owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This trade represents a 3.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of Extreme Networks stock in a transaction on Friday, August 21st. The shares were sold at an average price of $22.30, for a total transaction of $486,697.50. Following the completion of the sale, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. This trade represents a 9.98% decrease in their position. 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 301,825 shares of company stock valued at $8,709,148 over the last ninety days. 3.60% of the stock is owned by insiders.

Extreme Networks Stock Performance

Extreme Networks stock opened at $22.38 on Tuesday. 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 company has a market capitalization of $2.92 billion, a PE ratio of 72.20, a P/E/G ratio of 1.52 and a beta of 1.79. The firm has a fifty day simple moving average of $28.96 and a two-hundred day simple moving average of $22.59. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last issued its 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. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. During the same period in the prior year, the business posted $0.25 EPS. Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. 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. Research analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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 research report on Monday, June 8th. Rosenblatt Securities dropped their price objective on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. UBS Group set a $28.00 target price on Extreme Networks in a research note on Thursday, April 30th. Lake Street Capital raised their price target on Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, B. Riley Financial lifted their price target on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.25.

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.