71,959 Shares in Extreme Networks, Inc. $EXTR Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 71,959 shares of the technology company’s stock, valued at approximately $2,329,000.

A number of other hedge funds have also added to or reduced their stakes in EXTR. BlackRock Inc. bought a new stake in Extreme Networks during the 2nd quarter worth approximately $674,661,000. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock valued at $318,219,000 after purchasing an additional 349,199 shares in the last quarter. State Street Corp lifted its holdings in shares of Extreme Networks by 3.9% in the fourth quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock valued at $94,314,000 after purchasing an additional 213,094 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of Extreme Networks by 5.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company’s stock valued at $78,942,000 after buying an additional 262,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Extreme Networks by 7.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company’s stock valued at $48,975,000 after buying an additional 230,617 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $22.01 on Thursday. The business’s fifty day simple moving average is $27.72 and its 200 day simple moving average is $22.96. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $33.73. The firm has a market capitalization of $2.87 billion, a P/E ratio of 71.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 earnings per share (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 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 business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. As a group, analysts anticipate that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Insider Buying and Selling

In other news, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 120,834 shares in the company, valued at $3,749,479.02. This trade represents a 19.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin R. Rhodes sold 21,825 shares of Extreme Networks stock in a transaction that occurred on Friday, August 21st. The stock was 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 directly owned 196,803 shares in the company, valued at $4,388,706.90. This trade represents a 9.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 144,325 shares of company stock worth $4,197,148. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. B. Riley Financial lifted their price objective on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Bank of America upped their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Lake Street Capital raised their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.