43,058 Shares in Extreme Networks, Inc. $EXTR Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 43,058 shares of the technology company’s stock, valued at approximately $1,394,000.

A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Extreme Networks in the 2nd quarter valued at $674,661,000. Vanguard Group Inc. raised its stake in Extreme Networks by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after buying an additional 349,199 shares during the last quarter. State Street Corp raised its stake in Extreme Networks by 3.9% during the fourth quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock worth $94,314,000 after buying an additional 213,094 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its holdings in Extreme Networks by 5.3% in the first quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company’s stock valued at $78,942,000 after buying an additional 262,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Extreme Networks by 7.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company’s stock valued at $48,975,000 after buying an additional 230,617 shares during the period. 91.05% of the stock is currently owned by institutional investors.

Insider Activity at Extreme Networks

In related news, CFO Kevin R. Rhodes sold 21,825 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the completion of the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at $4,388,706.90. The trade was a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $31.03, for a total value of $930,900.00. Following the transaction, the insider directly owned 120,834 shares in the company, valued at approximately $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 301,825 shares of company stock valued at $8,709,148 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Extreme Networks Stock Down 2.8%

Shares of NASDAQ EXTR opened at $22.58 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The firm has a market cap of $2.95 billion, a PE ratio of 72.84, a P/E/G ratio of 1.49 and a beta of 1.79. The company’s fifty day simple moving average is $28.28 and its 200 day simple moving average is $22.75. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The firm had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial boosted their price objective on Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings lowered Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Lake Street Capital lifted their target price on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Seven 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. Based on data from MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

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.