Federated Hermes Inc. Sells 254,191 Shares of Extreme Networks, Inc. $EXTR

Federated Hermes Inc. decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 21.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 956,039 shares of the technology company’s stock after selling 254,191 shares during the quarter. Federated Hermes Inc. owned about 0.72% of Extreme Networks worth $17,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Extreme Networks by 3,302.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,460,851 shares of the technology company’s stock worth $44,172,000 after buying an additional 2,388,527 shares during the last quarter. Nuveen LLC purchased a new position in Extreme Networks in the first quarter worth about $14,147,000. Millennium Management LLC increased its stake 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 last quarter. Trigran Investments Inc. raised its position in Extreme Networks by 30.3% during the first quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company’s stock valued at $41,098,000 after purchasing an additional 722,121 shares during the period. Finally, American Century Companies Inc. raised its position in Extreme Networks by 21.7% during the second quarter. American Century Companies Inc. now owns 3,494,851 shares of the technology company’s stock valued at $62,733,000 after purchasing an additional 622,953 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EXTR. B. Riley reiterated a “buy” rating on shares of Extreme Networks in a report on Thursday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Extreme Networks in a research note on Monday, November 24th. Oppenheimer raised shares of Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Thursday, October 30th. Rosenblatt Securities restated a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a report on Tuesday, November 11th. Finally, Bank of America started coverage on shares of Extreme Networks in a report on Wednesday, November 19th. They set a “buy” rating and a $24.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.83.

Insider Activity at Extreme Networks

In other news, CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $17.46, for a total value of $873,000.00. Following the completion of the sale, the chief executive officer owned 1,871,418 shares in the company, valued at approximately $32,674,958.28. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Extreme Networks Trading Up 0.8%

EXTR opened at $18.20 on Thursday. The stock’s fifty day moving average is $18.71 and its two-hundred day moving average is $18.89. The company has a market capitalization of $2.43 billion, a P/E ratio of 260.00, a PEG ratio of 2.00 and a beta of 1.67. Extreme Networks, Inc. has a 52 week low of $10.10 and a 52 week high of $22.89. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 2.32.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $310.25 million during the quarter, compared to analysts’ expectations of $295.72 million. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. Analysts forecast 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.