OP Asset Management Ltd Makes New Investment in Extreme Networks, Inc. $EXTR

Key Points

• OP Asset Management Ltd initiated a new position in Extreme Networks during the first quarter, buying 541,968 shares valued at about $8.17 million. The stake represented roughly 0.40% of the company.
• Analyst sentiment is mostly positive: several firms raised price targets, and the stock carries a Moderate Buy consensus with a target price of $30.83. Recent ratings included upgrades from Lake Street Capital and Wall Street Zen, though Weiss Ratings cut its view to sell.
• Extreme Networks reported quarterly earnings of $0.26 per share, beating estimates, on revenue of $316.87 million, up 11.4% year over year. The company also noted that insiders recently sold shares, including the CFO and another insider, for a combined reduction in ownership.

OP Asset Management Ltd bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 541,968 shares of the technology company's stock, valued at approximately $8,173,000. OP Asset Management Ltd owned 0.40% of Extreme Networks as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in EXTR. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extreme Networks during the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. lifted its position in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,484 shares during the period. CWM LLC boosted 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 worth $53,000 after purchasing an additional 1,084 shares during the last quarter. Quarry LP boosted 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 worth $54,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Extreme Networks by 136.8% in the 4th 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 period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Analysts Set New Price Targets

EXTR has been the topic of several research analyst reports. Lake Street Capital increased their price target on Extreme Networks from $25.00 to $34.00 and gave the company a "buy" rating in a report on Monday, June 15th. Needham & Company LLC lifted their price objective on Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. B. Riley Financial reissued a "buy" rating on shares of Extreme Networks in a report on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 24th. Finally, Weiss Ratings cut shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 15th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.83.

Insider Buying and Selling

In other news, insider Katayoun Motiey sold 30,000 shares of the firm's stock in a transaction dated 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 owned 120,834 shares of the company's stock, valued at $3,749,479.02. This trade represents a 19.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.43, for a total value of $1,065,050.00. Following the transaction, the chief financial officer directly owned 151,296 shares in the company, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 642,182 shares of company stock worth $16,188,978 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Extreme Networks Trading Up 0.1%

Shares of EXTR stock opened at $30.96 on Friday. 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 company has a market cap of $4.05 billion, a price-to-earnings ratio of 258.00, a PEG ratio of 2.92 and a beta of 1.81. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $32.29. The firm has a fifty day moving average price of $25.24 and a 200-day moving average price of $18.95.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $316.87 million for 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%.Extreme Networks's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities analysts predict that Extreme Networks, Inc. will post 0.53 earnings per share for the current 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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