Geode Capital Management LLC Purchases 33,045 Shares of Extreme Networks, Inc. $EXTR

Geode Capital Management LLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,191,820 shares of the technology company’s stock after acquiring an additional 33,045 shares during the period. Geode Capital Management LLC owned about 2.40% of Extreme Networks worth $57,301,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Extreme Networks in the 1st quarter worth $14,147,000. Millennium Management LLC raised its position in Extreme Networks by 163.0% in the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after buying an additional 781,103 shares during the last quarter. Trigran Investments Inc. lifted its stake in Extreme Networks by 30.3% during the 1st quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company’s stock valued at $41,098,000 after acquiring an additional 722,121 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of Extreme Networks during the 2nd quarter valued at about $10,417,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Extreme Networks by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,325,419 shares of the technology company’s stock valued at $242,445,000 after acquiring an additional 406,350 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on EXTR shares. UBS Group increased their price objective on shares of Extreme Networks from $15.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $24.00 target price on shares of Extreme Networks in a report on Monday. B. Riley reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Thursday, October 30th. Oppenheimer raised shares of Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Insider Transactions at Extreme Networks

In other Extreme Networks news, CFO Kevin R. Rhodes sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $21.52, for a total transaction of $301,280.00. Following the sale, the chief financial officer directly owned 126,202 shares of the company’s stock, valued at $2,715,867.04. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Extreme Networks Trading Down 1.3%

Extreme Networks stock opened at $17.08 on Tuesday. Extreme Networks, Inc. has a 12-month low of $10.10 and a 12-month high of $22.89. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 244.00, a P/E/G ratio of 1.89 and a beta of 1.82. The firm has a 50 day moving average of $19.66 and a 200 day moving average of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.74 and a debt-to-equity ratio of 2.32.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $310.25 million during the quarter, compared to analyst estimates of $295.72 million. Extreme Networks had a net margin of 0.73% and a return on equity of 81.83%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. Extreme Networks has set its FY 2026 guidance at EPS. Q2 2026 guidance at 0.230-0.250 EPS. As a group, research analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.