Extreme Networks, Inc. $EXTR Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,061 shares of the technology company’s stock after selling 45,382 shares during the period. Clearbridge Investments LLC owned approximately 0.39% of Extreme Networks worth $8,759,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EXTR. 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 valued at $16,675,000 after acquiring an additional 781,103 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Extreme Networks during the second quarter worth $11,265,000. Qube Research & Technologies Ltd lifted its stake in Extreme Networks by 181.9% during the third quarter. Qube Research & Technologies Ltd now owns 959,444 shares of the technology company’s stock worth $19,813,000 after purchasing an additional 619,154 shares in the last quarter. Invesco Ltd. lifted its stake in Extreme Networks by 86.9% during the third quarter. Invesco Ltd. now owns 999,653 shares of the technology company’s stock worth $20,643,000 after purchasing an additional 464,652 shares in the last quarter. Finally, Cooper Creek Partners Management LLC lifted its stake in Extreme Networks by 98.2% during the third quarter. Cooper Creek Partners Management LLC now owns 838,178 shares of the technology company’s stock worth $17,308,000 after purchasing an additional 415,296 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXTR has been the topic of a number of research reports. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. Bank of America lifted their target price on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Insider Buying and Selling

In related news, Director Edward H. Kennedy sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $22.86, for a total value of $1,143,000.00. Following the sale, the director owned 576,045 shares of the company’s stock, valued at $13,168,388.70. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the sale, the chief executive officer directly owned 1,721,902 shares in the company, valued at approximately $44,941,642.20. This trade represents a 5.49% 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 577,182 shares of company stock valued at $14,193,028. Company insiders own 3.60% of the company’s stock.

Extreme Networks Price Performance

Extreme Networks stock opened at $28.58 on Thursday. The firm has a market cap of $3.74 billion, a PE ratio of 238.17, a price-to-earnings-growth ratio of 2.71 and a beta of 1.81. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $30.16. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $21.94 and its two-hundred day moving average is $17.87.

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

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.