Susquehanna Fundamental Investments LLC Purchases 107,718 Shares of Extreme Networks, Inc. $EXTR

Key Points

• Susquehanna Fundamental Investments increased its Extreme Networks stake by 379.1% in the second quarter, purchasing 107,718 shares and bringing its holdings to 136,131 shares valued at approximately $4.4 million. Institutional investors collectively own 91.05% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $32.25; several firms recently raised their targets, while Rosenblatt trimmed its target to $38 but maintained a buy rating.
• Extreme Networks exceeded quarterly expectations, reporting adjusted EPS of $0.32 versus the $0.29 estimate and revenue of $338.55 million, up 10.3% year over year. However, insiders—including the CEO—sold shares recently, with insiders selling 144,325 shares worth about $4.2 million over the past 90 days.

Susquehanna Fundamental Investments LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 379.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,131 shares of the technology company's stock after purchasing an additional 107,718 shares during the quarter. Susquehanna Fundamental Investments LLC owned approximately 0.10% of Extreme Networks worth $4,407,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. First Bank & Trust lifted its position in shares of Extreme Networks by 2.4% during the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company's stock worth $427,000 after buying an additional 306 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Extreme Networks by 13.2% during the second quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company's stock valued at $130,000 after acquiring an additional 465 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Extreme Networks by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock valued at $470,000 after acquiring an additional 683 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock worth $426,000 after acquiring an additional 735 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Extreme Networks by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company's stock worth $166,000 after purchasing an additional 735 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EXTR. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Rosenblatt Securities cut their price target on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Lake Street Capital raised their price objective on shares of Extreme Networks from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Extreme Networks in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.25.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $22.49 on Tuesday. The company has a 50 day moving average of $28.09 and a 200 day moving average of $22.85. The stock has a market cap of $2.93 billion, a P/E ratio of 72.55, a P/E/G ratio of 1.49 and a beta of 1.79. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $33.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analysts' expectations of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. 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 EPS for the current fiscal year.

Insider Activity

In other Extreme Networks news, insider Katayoun Motiey sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $31.03, for a total value of $930,900.00. Following the completion of the transaction, the insider owned 120,834 shares of the company's stock, valued at $3,749,479.02. The trade was a 19.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward Meyercord sold 50,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the sale, the chief executive officer owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This trade represents a 3.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 144,325 shares of company stock worth $4,197,148. 3.60% of the stock is currently owned by insiders.

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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