William Blair Investment Management LLC Raises Stock Position in Extreme Networks, Inc. $EXTR

Key Points

• William Blair Investment Management increased its stake in Extreme Networks by 9.9% in the fourth quarter, buying an additional 132,727 shares and lifting its holdings to 1,479,635 shares worth about $24.6 million.
• Several other institutional investors also added to or initiated positions, and hedge funds and other institutions now own 91.05% of the company’s stock.
• Extreme Networks reported better-than-expected quarterly results, with EPS of $0.26 versus $0.24 expected and revenue of $316.87 million, while analysts currently rate the stock a Moderate Buy with an average price target of $25.50.

William Blair Investment Management LLC boosted its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,479,635 shares of the technology company's stock after acquiring an additional 132,727 shares during the period. William Blair Investment Management LLC owned 1.10% of Extreme Networks worth $24,636,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Extreme Networks in the 3rd quarter worth approximately $31,000. CWM LLC grew its stake in Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock worth $53,000 after buying an additional 1,084 shares in the last quarter. Quarry LP grew its stake in Extreme Networks by 74.9% in the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company's stock worth $54,000 after buying an additional 1,118 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Extreme Networks in the 3rd quarter worth approximately $70,000. Finally, Quadrant Capital Group LLC purchased a new position in Extreme Networks in the 3rd quarter worth approximately $91,000. Hedge funds and other institutional investors own 91.05% of the company's stock.

Insider Activity at Extreme Networks

In related news, Director Kathleen M. Holmgren sold 19,521 shares of the company's stock in a transaction 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 sale, the director directly owned 219,308 shares in the company, valued at $5,434,452.24. This represents a 8.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Raj Khanna sold 10,000 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $23.20, for a total transaction of $232,000.00. Following the sale, the director owned 210,062 shares of the company's stock, valued at $4,873,438.40. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 297,182 shares of company stock worth $6,448,528 over the last ninety days. Insiders own 3.60% of the company's stock.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $25.60 on Tuesday. The company has a fifty day moving average of $18.80 and a 200 day moving average of $16.97. Extreme Networks, Inc. has a 52 week low of $13.48 and a 52 week high of $25.84. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $3.35 billion, a P/E ratio of 213.33, a P/E/G ratio of 2.42 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted 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. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The company had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. During the same period in the prior year, the business posted $0.21 EPS. The firm's 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. On average, research analysts predict that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

EXTR has been the subject of a number of research reports. Lake Street Capital reissued a "buy" rating and issued a $25.00 price target on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Needham & Company LLC upped their price objective on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a research note on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.50.

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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