SEB Asset Management AB Buys Shares of 808,461 Extreme Networks, Inc. $EXTR

SEB Asset Management AB bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 808,461 shares of the technology company’s stock, valued at approximately $12,192,000. SEB Asset Management AB owned 0.62% of Extreme Networks as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Extreme Networks by 20.8% during the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after buying an additional 12,667 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after buying an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Extreme Networks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after acquiring an additional 3,349 shares in the last quarter. Millennium Management LLC increased its position in shares of Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after acquiring an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock worth $4,226,000 after acquiring an additional 22,209 shares during the period. 91.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EXTR. Bank of America boosted their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC lifted their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Lake Street Capital boosted their price target 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, Rosenblatt Securities increased their price objective on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction dated 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 sale, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of Extreme Networks stock in a transaction on Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, the insider owned 120,834 shares in the company, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 592,182 shares of company stock worth $15,423,978. Company insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

Shares of NASDAQ:EXTR opened at $30.28 on Tuesday. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The company’s 50 day moving average price is $29.11 and its two-hundred day moving average price is $20.66. The firm has a market cap of $3.96 billion, a PE ratio of 252.33, a PEG ratio of 1.86 and a beta of 1.77. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. Extreme Networks’s revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities research analysts predict that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

About Extreme Networks

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.