AXQ Capital LP Invests $327,000 in Extreme Networks, Inc. $EXTR

AXQ Capital LP bought a new position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,665 shares of the technology company’s stock, valued at approximately $327,000.

A number of other institutional investors and hedge funds have also modified their holdings of EXTR. Royal Bank of Canada raised its stake in shares of Extreme Networks by 20.8% during the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after buying an additional 12,667 shares during the last quarter. AQR Capital Management LLC increased its stake in Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 purchasing an additional 3,349 shares in the last quarter. Millennium Management LLC increased its stake 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 purchasing an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Extreme Networks by 7.5% in the first 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 purchasing an additional 22,209 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on EXTR. Needham & Company LLC upped their target price 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. B. Riley Financial reaffirmed a “buy” rating 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, May 24th. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Finally, UBS Group set a $28.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Insider Transactions at Extreme Networks

In other news, Director Edward H. Kennedy sold 50,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $22.86, for a total value of $1,143,000.00. Following the transaction, the director directly owned 576,045 shares of the company’s stock, valued at $13,168,388.70. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katayoun Motiey sold 7,500 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $28.00, for a total transaction of $210,000.00. Following the completion of the transaction, the insider directly owned 165,834 shares in the company, valued at $4,643,352. The trade was a 4.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 569,682 shares of company stock valued at $13,968,028. 3.60% of the stock is owned by company insiders.

Extreme Networks Stock Performance

Shares of EXTR opened at $29.61 on Friday. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $29.78. The firm has a fifty day simple moving average of $20.86 and a 200 day simple moving average of $17.54. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 246.75, a PEG ratio of 2.72 and a beta of 1.81. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Research analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

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.