Susquehanna Fundamental Investments LLC Increases Holdings in Extreme Networks, Inc. $EXTR

Susquehanna Fundamental Investments LLC increased its position in Extreme Networks, Inc. (NASDAQ:EXTR) by 379.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,131 shares of the technology company’s stock after buying an additional 107,718 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Extreme Networks were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of EXTR. Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks during the second quarter worth approximately $251,000. Empowered Funds LLC bought a new stake in shares of Extreme Networks in the 2nd quarter worth approximately $710,000. Jefferies Financial Group Inc. purchased a new stake in shares of Extreme Networks in the 2nd quarter valued at $779,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Extreme Networks in the 2nd quarter valued at $28,000. Finally, Corient Private Wealth LP bought a new position in shares of Extreme Networks during the 2nd quarter valued at $839,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevin R. Rhodes sold 21,825 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $22.30, for a total transaction of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares of the company’s stock, valued at approximately $4,388,706.90. This represents a 9.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the completion of the transaction, the chief executive officer owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This represents a 3.04% decrease in their position. 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 144,325 shares of company stock worth $4,197,148. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a research note on Thursday, August 6th. B. Riley Financial lifted their price objective on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC lowered their target price on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities reduced their price target on Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Seven investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Extreme Networks Trading Down 0.4%

NASDAQ EXTR opened at $22.49 on Tuesday. The stock has a market cap of $2.93 billion, a P/E ratio of 72.55, a price-to-earnings-growth ratio of 1.49 and a beta of 1.79. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $33.73. The stock has a 50 day simple moving average of $28.09 and a two-hundred day simple moving average of $22.85. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business had revenue of $338.55 million during the quarter, compared to analyst estimates of $332.49 million. During the same period in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. 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. On average, analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Extreme Networks 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.