Aurora Investment Counsel Buys New Position in Extreme Networks, Inc. $EXTR

Aurora Investment Counsel purchased a new position in Extreme Networks, Inc. (NASDAQ:EXTR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 170,866 shares of the technology company’s stock, valued at approximately $2,577,000. Extreme Networks accounts for about 1.4% of Aurora Investment Counsel’s portfolio, making the stock its 14th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. increased its stake in shares of Extreme Networks by 301.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after purchasing an additional 2,232,373 shares in the last quarter. Jain Global LLC bought a new stake in Extreme Networks during the fourth quarter valued at about $17,361,000. 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 valued at $16,675,000 after purchasing an additional 781,103 shares during the period. Southernsun Asset Management LLC increased its position in Extreme Networks by 46.9% in the fourth quarter. Southernsun Asset Management LLC now owns 1,970,886 shares of the technology company’s stock worth $32,815,000 after buying an additional 629,486 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Extreme Networks in the second quarter worth about $11,265,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EXTR. Wall Street Zen cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Lake Street Capital increased their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Needham & Company LLC raised their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. UBS Group set a $28.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Finally, Bank of America upped their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.83.

Insider Activity

In related news, Director Edward H. Kennedy sold 50,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their ownership of the stock. The sale 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 the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director directly owned 219,308 shares in the company, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is owned by corporate insiders.

Extreme Networks Trading Up 1.9%

Shares of EXTR stock opened at $30.34 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 252.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.77. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The stock’s 50-day moving average price is $28.99 and its 200-day moving average price is $20.54.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities research analysts predict 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.