Extreme Networks, Inc. $EXTR Shares Bought by Southernsun Asset Management LLC

Southernsun Asset Management LLC increased its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 16.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,297,933 shares of the technology company’s stock after buying an additional 327,047 shares during the period. Extreme Networks accounts for 5.0% of Southernsun Asset Management LLC’s holdings, making the stock its 5th biggest holding. Southernsun Asset Management LLC’s holdings in Extreme Networks were worth $34,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in Extreme Networks by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after acquiring an additional 735 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Extreme Networks in the 1st quarter worth about $12,192,000. Aurora Investment Counsel acquired a new position in shares of Extreme Networks in the 1st quarter valued at about $2,577,000. Gallacher Capital Management LLC acquired a new position in shares of Extreme Networks in the 1st quarter valued at about $236,000. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Extreme Networks by 5.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 308,660 shares of the technology company’s stock valued at $4,655,000 after purchasing an additional 15,880 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock opened at $30.44 on Wednesday. The business has a 50-day simple moving average of $29.27 and a 200 day simple moving average of $20.75. Extreme Networks, Inc. has a one year low of $13.48 and a one year high of $33.73. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 253.67, a PEG ratio of 1.86 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s quarterly 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. On average, research analysts anticipate that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EXTR shares. Lake Street Capital raised their target price on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Rosenblatt Securities raised their price objective on shares of Extreme Networks from $29.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Bank of America increased their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Buying and Selling

In other Extreme Networks news, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the transaction, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. This represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward Meyercord sold 100,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the transaction, the chief executive officer owned 1,721,902 shares in the company, valued at approximately $44,941,642.20. The trade was a 5.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 592,182 shares of company stock worth $15,423,978 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

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.