Polar Asset Management Partners Inc. Acquires New Holdings in Extreme Networks, Inc. $EXTR

Key Points

• Polar Asset Management Partners acquired 461,629 shares of Extreme Networks in the first quarter, valued at approximately $6.96 million, giving it a 0.35% stake. Institutional investors collectively own 91.05% of the company.
• Analysts remain broadly positive: six rate EXTR a Buy and two rate it a Hold, resulting in a consensus “Moderate Buy” rating and an average price target of $32.83.
• Extreme Networks exceeded quarterly expectations with adjusted EPS of $0.26 versus $0.24 estimated and revenue of $316.87 million, up 11.4% year over year. However, insiders sold 592,182 shares worth about $15.4 million over the past 90 days.

Polar Asset Management Partners Inc. acquired a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 461,629 shares of the technology company's stock, valued at approximately $6,961,000. Polar Asset Management Partners Inc. owned approximately 0.35% of Extreme Networks as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Entropy Technologies LP boosted its position in Extreme Networks by 9.4% during the 1st quarter. Entropy Technologies LP now owns 31,749 shares of the technology company's stock valued at $479,000 after acquiring an additional 2,730 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Extreme Networks by 32.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,076,080 shares of the technology company's stock worth $31,307,000 after acquiring an additional 510,215 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its stake in shares of Extreme Networks by 5.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company's stock worth $78,942,000 after purchasing an additional 262,400 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Extreme Networks by 7.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company's stock worth $48,975,000 after purchasing an additional 230,617 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Extreme Networks by 50.8% during the first quarter. Sei Investments Co. now owns 360,866 shares of the technology company's stock valued at $5,442,000 after purchasing an additional 121,535 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EXTR. Needham & Company LLC lifted their target price on Extreme Networks from $26.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Rosenblatt Securities increased their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 6th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Lake Street Capital boosted their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.83.

Insiders Place Their Bets

In other news, insider Katayoun Motiey sold 30,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $31.03, for a total transaction of $930,900.00. Following the transaction, the insider owned 120,834 shares in the company, valued at $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathleen M. Holmgren sold 19,521 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 219,308 shares of the company's stock, valued at $5,434,452.24. The trade was a 8.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 592,182 shares of company stock worth $15,423,978 over the last ninety days. Insiders own 3.60% of the company's stock.

Extreme Networks Price Performance

Extreme Networks stock opened at $29.49 on Monday. 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 capitalization of $3.86 billion, a price-to-earnings ratio of 245.75, a PEG ratio of 1.81 and a beta of 1.77. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The business has a fifty day moving average price of $29.61 and a 200-day moving average price of $21.03.

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

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.

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