Arrowstreet Capital Limited Partnership Boosts Stake in Extreme Networks, Inc. $EXTR

Key Points

• Arrowstreet Capital increased its Extreme Networks stake by 7.6% in the first quarter, acquiring 230,617 additional shares and bringing its ownership to 2.48%, valued at approximately $49 million. Institutional investors collectively own 91.05% of the company.
• Extreme Networks exceeded quarterly expectations, reporting $0.26 EPS and $316.87 million in revenue, with revenue up 11.4% year over year. Shares opened at $29.95, near the midpoint of their 12-month range.
• Analyst sentiment remains favorable, with six Buy ratings and two Holds and a consensus price target of $32.83. However, company insiders have sold 592,182 shares worth approximately $15.4 million over the past 90 days.

Arrowstreet Capital Limited Partnership lifted its stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,247,680 shares of the technology company's stock after acquiring an additional 230,617 shares during the period. Arrowstreet Capital Limited Partnership owned 2.48% of Extreme Networks worth $48,975,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EXTR. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extreme Networks during the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. boosted its position in shares of Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock worth $33,000 after acquiring an additional 1,484 shares during the last quarter. Quarry LP grew its holdings in Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,118 shares during the period. CWM LLC grew its holdings in Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after purchasing an additional 1,084 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Extreme Networks by 136.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock worth $54,000 after purchasing an additional 1,861 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Trading Up 1.6%

Shares of EXTR opened at $29.95 on Tuesday. 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 is $29.73 and its two-hundred day moving average is $21.13. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market cap of $3.92 billion, a PE ratio of 249.58, a P/E/G ratio of 1.81 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EXTR shares. B. Riley Financial reaffirmed a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. Rosenblatt Securities increased their target price on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Lake Street Capital raised their price target on shares of Extreme Networks from $25.00 to $34.00 and gave the company a "buy" rating in a report on Monday, June 15th. Weiss Ratings raised shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 6th. Finally, UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.83.

Insider Activity

In related news, CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the sale, the chief executive officer owned 1,621,902 shares of the company's stock, valued at $47,359,538.40. The trade was a 5.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathleen M. Holmgren sold 19,521 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $24.78, for a total transaction of $483,730.38. Following the completion of the transaction, the director owned 219,308 shares in the company, valued at $5,434,452.24. This represents a 8.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 592,182 shares of company stock worth $15,423,978. Company insiders own 3.60% of the company's stock.

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.

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