Oppenheimer Asset Management Inc. Takes Position in Extreme Networks, Inc. $EXTR

Oppenheimer Asset Management Inc. acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 90,536 shares of the technology company’s stock, valued at approximately $2,931,000. Oppenheimer Asset Management Inc. owned approximately 0.07% of Extreme Networks at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks during the third quarter valued at about $31,000. Rockefeller Capital Management L.P. raised its stake in shares of Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after buying an additional 1,484 shares during the period. CWM LLC raised its stake in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after buying an additional 1,084 shares during the period. Quarry LP lifted its position in shares of Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after buying an additional 1,118 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock valued at $54,000 after buying an additional 1,861 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Katayoun Motiey sold 30,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the transaction, the insider owned 120,834 shares of the company’s stock, valued at approximately $3,749,479.02. The trade was a 19.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 1,596,475 shares of the company’s stock, valued at approximately $47,558,990.25. This represents a 3.04% 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. Insiders have sold a total of 395,000 shares of company stock worth $11,229,950 over the last quarter. Insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $24.41 on Friday. 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 stock has a 50-day moving average price of $29.80 and a 200 day moving average price of $22.19. The stock has a market capitalization of $3.19 billion, a P/E ratio of 78.74, a P/E/G ratio of 1.61 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter last year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. 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. Equities research analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EXTR has been the subject of several analyst reports. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Craig Hallum reaffirmed a “buy” rating and set a $31.00 price target on shares of Extreme Networks in a report on Thursday, August 6th. Lake Street Capital upped 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. 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. Finally, UBS Group set a $28.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.25.

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.