CenterBook Partners LP Sells 111,232 Shares of Extreme Networks, Inc. $EXTR

CenterBook Partners LP decreased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 49.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 112,799 shares of the technology company’s stock after selling 111,232 shares during the period. CenterBook Partners LP’s holdings in Extreme Networks were worth $2,329,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EXTR. Arrowstreet Capital Limited Partnership raised its position in Extreme Networks by 3,302.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,460,851 shares of the technology company’s stock valued at $44,172,000 after buying an additional 2,388,527 shares during the last quarter. Millennium Management LLC grew its stake in shares of Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after acquiring an additional 781,103 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Extreme Networks during the 2nd quarter worth approximately $11,265,000. American Century Companies Inc. lifted its position in shares of Extreme Networks by 21.7% in the second quarter. American Century Companies Inc. now owns 3,494,851 shares of the technology company’s stock worth $62,733,000 after purchasing an additional 622,953 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Extreme Networks during the second quarter worth $10,417,000. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXTR has been the topic of several recent research reports. UBS Group reiterated a “neutral” rating and issued a $17.00 price target on shares of Extreme Networks in a research note on Thursday, January 29th. Bank of America assumed coverage on Extreme Networks in a report on Wednesday, November 19th. They issued a “buy” rating and a $24.00 price objective for the company. Needham & Company LLC dropped their target price on Extreme Networks from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Oppenheimer raised Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research report on Thursday, October 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research report on Thursday, January 29th. Six investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Extreme Networks Stock Down 0.6%

EXTR opened at $14.04 on Friday. The stock’s fifty day simple moving average is $15.71 and its 200 day simple moving average is $18.36. Extreme Networks, Inc. has a 1-year low of $10.10 and a 1-year high of $22.89. The stock has a market cap of $1.89 billion, a PE ratio of 200.60, a price-to-earnings-growth ratio of 1.52 and a beta of 1.68. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 1.61.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 28th. The technology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $317.93 million for the quarter, compared to the consensus estimate of $312.33 million. Extreme Networks had a net margin of 0.75% and a return on equity of 75.56%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Extreme Networks has set its Q3 2026 guidance at 0.230-0.250 EPS and its FY 2026 guidance at 0.980-1.020 EPS. As a group, research analysts expect that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $14.91, for a total transaction of $745,500.00. Following the completion of the sale, the chief executive officer directly owned 1,871,418 shares in the company, valued at $27,902,842.38. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 150,000 shares of company stock valued at $2,445,500. 3.60% of the stock is owned by corporate insiders.

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.