Victory Capital Management Inc. Sells 656,852 Shares of Extreme Networks, Inc. $EXTR

Victory Capital Management Inc. lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,359,159 shares of the technology company’s stock after selling 656,852 shares during the quarter. Victory Capital Management Inc. owned approximately 3.26% of Extreme Networks worth $90,017,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co acquired a new position in Extreme Networks in the 3rd quarter valued at approximately $721,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Extreme Networks in the third quarter worth $300,000. Intech Investment Management LLC increased its holdings in Extreme Networks by 47.0% in the third quarter. Intech Investment Management LLC now owns 257,215 shares of the technology company’s stock valued at $5,311,000 after purchasing an additional 82,246 shares during the period. Fox Run Management L.L.C. raised its position in Extreme Networks by 20.9% during the 3rd quarter. Fox Run Management L.L.C. now owns 101,900 shares of the technology company’s stock worth $2,104,000 after purchasing an additional 17,624 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its holdings in Extreme Networks by 203.7% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 132,439 shares of the technology company’s stock worth $2,735,000 after buying an additional 88,835 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXTR has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a research note on Thursday, January 29th. UBS Group reiterated a “neutral” rating and issued a $17.00 target price on shares of Extreme Networks in a report on Thursday, January 29th. Bank of America initiated coverage on shares of Extreme Networks in a research report on Wednesday, November 19th. They set a “buy” rating and a $24.00 target price for the company. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Extreme Networks presently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Insiders Place Their Bets

In other Extreme Networks news, CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $14.91, for a total value of $745,500.00. Following the transaction, the chief executive officer owned 1,871,418 shares in the company, valued at approximately $27,902,842.38. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

Extreme Networks Stock Performance

Shares of EXTR stock opened at $14.44 on Thursday. The firm has a 50 day moving average of $15.21 and a 200-day moving average of $17.99. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 206.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.67. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 1.61. Extreme Networks, Inc. has a 52 week low of $10.10 and a 52 week high of $22.89.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a net margin of 0.75% and a return on equity of 75.56%. The business had revenue of $317.93 million during the quarter, compared to analysts’ expectations of $312.33 million. During the same period last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. 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. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current 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.