Extreme Networks, Inc. $EXTR Position Increased by Simplicity Wealth LLC

Simplicity Wealth LLC lifted its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 113.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,045 shares of the technology company’s stock after purchasing an additional 25,550 shares during the quarter. Simplicity Wealth LLC’s holdings in Extreme Networks were worth $1,031,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EXTR. The Manufacturers Life Insurance Company acquired a new stake in Extreme Networks during the second quarter worth $2,329,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Extreme Networks in the 2nd quarter valued at $2,931,000. Bank of New York Mellon Corp acquired a new position in shares of Extreme Networks in the 2nd quarter valued at $23,896,000. Jupiter Topco LLC acquired a new position in shares of Extreme Networks in the 2nd quarter valued at $1,985,000. Finally, Bank of America Corp DE bought a new position in shares of Extreme Networks during the 2nd quarter worth about $45,531,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Extreme Networks Price Performance

Extreme Networks stock opened at $23.85 on Wednesday. The firm has a market capitalization of $3.15 billion, a P/E ratio of 76.94 and a beta of 1.76. The stock has a fifty day moving average price of $22.45 and a two-hundred day moving average price of $21.87. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $338.55 million during the quarter, compared to analyst estimates of $332.49 million. Extreme Networks’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last 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, equities research analysts predict that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

EXTR has been the topic of several recent research reports. Needham & Company LLC decreased their target price 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 raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 16th. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Craig Hallum restated a “buy” rating and set a $31.00 price target on shares of Extreme Networks in a research note on Thursday, August 6th. Seven 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 currently has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Insider Activity at Extreme Networks

In related news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the sale, the chief executive officer directly owned 1,596,475 shares in the company, valued at $47,558,990.25. This represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $22.30, for a total value of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at $4,388,706.90. This represents a 9.98% 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 sold a total of 121,825 shares of company stock worth $3,064,698 over the last three months. 3.20% of the stock is owned by company insiders.

Extreme Networks Company Profile

Extreme Networks, Inc develops networking solutions that help organizations connect, manage and secure users, devices and applications across campus, data center and distributed environments. Its portfolio includes wired and wireless network infrastructure, Ethernet switches, access points, software-defined wide-area networking (SD-WAN), network access control and cloud-based network management.

The company’s ExtremeCloud platform supports centralized monitoring, configuration, analytics and automation for network operations.