Virtus Advisers LLC Makes New $743,000 Investment in Extreme Networks, Inc. $EXTR

Virtus Advisers LLC bought a new stake in Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, HoldingsChannel reports. The fund bought 22,967 shares of the technology company’s stock, valued at approximately $743,000.

Several other large investors have also recently added to or reduced their stakes in the company. First Bank & Trust boosted its holdings in Extreme Networks by 2.4% in the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock valued at $427,000 after purchasing an additional 306 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 13.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company’s stock worth $130,000 after buying an additional 465 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Extreme Networks by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock worth $470,000 after buying an additional 683 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Extreme Networks by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock valued at $426,000 after buying an additional 735 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Extreme Networks by 7.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after buying an additional 735 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. This represents a 18.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katayoun Motiey sold 30,000 shares of the company’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 completion of the sale, the insider owned 120,834 shares in the company, valued at $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 395,000 shares of company stock worth $11,229,950. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings lowered Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday, June 8th. Rosenblatt Securities decreased their target price on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. UBS Group set a $28.00 price target on shares of Extreme Networks in a research note on Thursday, April 30th. 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Stock Performance

NASDAQ EXTR opened at $22.32 on Friday. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The company has a market capitalization of $2.91 billion, a P/E ratio of 72.00, a PEG ratio of 1.50 and a beta of 1.79. The business has a 50 day moving average price of $29.30 and a 200 day moving average price of $22.48. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million for 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%.Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business 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. Sell-side analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

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.