Extreme Networks, Inc. $EXTR Shares Bought by CenterBook Partners LP

Key Points

• CenterBook Partners LP increased its stake in Extreme Networks by 278% in the fourth quarter, ending with 426,394 shares worth about $7.1 million.
• Several other institutions also changed positions, and 91.05% of Extreme Networks shares are held by institutional investors and hedge funds.
• Insiders were active as well: CEO Edward Meyercord sold 100,000 shares and insider Katayoun Motiey sold 15,000 shares, while analysts currently rate the stock a Moderate Buy with a $25.50 consensus target price.

CenterBook Partners LP grew its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 278.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 426,394 shares of the technology company's stock after acquiring an additional 313,595 shares during the quarter. CenterBook Partners LP owned about 0.32% of Extreme Networks worth $7,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Extreme Networks during the third quarter worth about $31,000. Quarry LP increased its stake in Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock worth $54,000 after acquiring an additional 1,118 shares during the last quarter. CWM LLC boosted its position in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company's stock worth $53,000 after buying an additional 1,084 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Extreme Networks in the third quarter worth about $70,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Extreme Networks in the third quarter worth about $91,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the sale, the chief executive officer owned 1,721,902 shares in the company, valued at $44,941,642.20. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.50, for a total value of $397,500.00. Following the sale, the insider owned 173,334 shares in the company, valued at $4,593,351. The trade was a 7.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 569,682 shares of company stock worth $13,968,028. Company insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EXTR shares. UBS Group set a $28.00 target price on Extreme Networks in a research report on Thursday, April 30th. Needham & Company LLC upped their target price on Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 24th. Lake Street Capital reaffirmed a "buy" rating and issued a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Extreme Networks in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Extreme Networks has an average rating of "Moderate Buy" and a consensus target price of $25.50.

Extreme Networks Stock Performance

Shares of EXTR opened at $28.02 on Monday. The company has a market capitalization of $3.66 billion, a P/E ratio of 233.50, a P/E/G ratio of 2.65 and a beta of 1.80. Extreme Networks, Inc. has a one year low of $13.48 and a one year high of $29.77. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The stock has a 50-day moving average price of $21.11 and a 200 day moving average price of $17.62.

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

Extreme Networks 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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