Arrowstreet Capital Limited Partnership Raises Stock Holdings in Extreme Networks, Inc. $EXTR

Arrowstreet Capital Limited Partnership raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,247,680 shares of the technology company’s stock after purchasing an additional 230,617 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Extreme Networks were worth $48,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Extreme Networks by 20.8% during the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock valued at $974,000 after buying an additional 12,667 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock worth $455,000 after buying an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Extreme Networks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock valued at $1,015,000 after acquiring an additional 3,349 shares in the last quarter. Millennium Management LLC raised its holdings in Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after acquiring an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Extreme Networks by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock valued at $4,226,000 after acquiring an additional 22,209 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 100,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the transaction, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. This represents a 5.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 592,182 shares of company stock worth $15,423,978. 3.60% of the stock is owned by company insiders.

Extreme Networks Stock Performance

Shares of EXTR opened at $29.95 on Tuesday. The business’s fifty day moving average price is $29.73 and its 200 day moving average price is $21.13. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The stock has a market capitalization of $3.92 billion, a PE ratio of 249.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.77. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. During the same quarter last year, the company posted $0.21 earnings per share. Extreme Networks’s revenue was up 11.4% on a year-over-year basis. 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 year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXTR. Wall Street Zen lowered shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Bank of America upped their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Needham & Company LLC increased their price target on shares of Extreme Networks from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Rosenblatt Securities lifted their price target on Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

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.