Freestone Grove Partners LP Acquires Shares of 43,058 Extreme Networks, Inc. $EXTR

Freestone Grove Partners LP acquired a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 43,058 shares of the technology company’s stock, valued at approximately $1,394,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EXTR. Vanguard Group Inc. boosted its stake in Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock valued at $318,219,000 after purchasing an additional 349,199 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Extreme Networks in the fourth quarter worth approximately $1,009,000. Penn Capital Management Company LLC lifted its holdings in shares of Extreme Networks by 12.9% in the fourth quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock valued at $16,378,000 after purchasing an additional 111,761 shares in the last quarter. CenterBook Partners LP lifted its holdings in shares of Extreme Networks by 278.0% in the fourth quarter. CenterBook Partners LP now owns 426,394 shares of the technology company’s stock valued at $7,099,000 after purchasing an additional 313,595 shares in the last quarter. Finally, Trigran Investments Inc. lifted its holdings in shares of Extreme Networks by 4.2% in the fourth quarter. Trigran Investments Inc. now owns 2,285,391 shares of the technology company’s stock valued at $38,052,000 after purchasing an additional 92,990 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Extreme Networks Trading Down 2.8%

NASDAQ:EXTR opened at $22.58 on Friday. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The stock’s fifty day moving average price is $28.28 and its two-hundred day moving average price is $22.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. The company has a market cap of $2.95 billion, a P/E ratio of 72.84, a P/E/G ratio of 1.49 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) 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, analysts expect that Extreme Networks, Inc. will post 0.75 EPS for the current year.

Wall Street Analyst Weigh In

EXTR has been the subject of several recent research reports. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Needham & Company LLC dropped their price objective on Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. Craig Hallum reiterated a “buy” rating and issued a $31.00 target price on shares of Extreme Networks in a research note on Thursday, August 6th. Finally, Rosenblatt Securities reduced their price objective on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company 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 issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the transaction, the chief executive officer directly owned 1,621,902 shares of the company’s stock, valued at approximately $47,359,538.40. This trade represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 301,825 shares of company stock valued at $8,709,148. 3.60% of the stock is currently owned by corporate 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.