Extreme Networks, Inc. $EXTR Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 72.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,423 shares of the technology company’s stock after selling 78,113 shares during the period. SG Americas Securities LLC’s holdings in Extreme Networks were worth $459,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after buying an additional 12,667 shares during the period. AQR Capital Management LLC boosted its stake in Extreme Networks by 6.6% during 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 during the period. Millennium Management LLC grew its holdings in 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Extreme Networks by 7.5% in 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 in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EXTR shares. Needham & Company LLC raised their price objective on shares of Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America boosted their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Extreme Networks Trading Up 3.7%

Shares of EXTR opened at $31.12 on Thursday. The business’s 50-day moving average price is $27.65 and its 200 day moving average price is $19.82. The stock has a market capitalization of $4.07 billion, a P/E ratio of 259.33, a P/E/G ratio of 1.84 and a beta of 1.77. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.10. The company has a current ratio of 0.91, a quick ratio of 0.78 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 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The company had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin R. Rhodes sold 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the completion of the transaction, the chief financial officer owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. This trade represents a 18.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen M. Holmgren sold 19,521 shares of Extreme Networks stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the transaction, the director owned 219,308 shares in the company, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 592,182 shares of company stock worth $15,423,978 in the last quarter. Insiders own 3.60% of the company’s stock.

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.