Penn Capital Management Company LLC Sells 248,504 Shares of Extreme Networks, Inc. $EXTR

Penn Capital Management Company LLC lessened its holdings in Extreme Networks, Inc. (NASDAQ:EXTR) by 22.2% in the 3rd quarter, Holdings Channel reports. The firm owned 869,517 shares of the technology company’s stock after selling 248,504 shares during the quarter. Extreme Networks accounts for 1.4% of Penn Capital Management Company LLC’s portfolio, making the stock its 16th biggest holding. Penn Capital Management Company LLC’s holdings in Extreme Networks were worth $17,999,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EXTR. Salomon & Ludwin LLC acquired a new position in Extreme Networks during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extreme Networks in the third quarter worth about $31,000. CWM LLC lifted its position in shares of Extreme Networks by 44.8% in the third quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after buying an additional 648 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Extreme Networks by 85.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after acquiring an additional 1,118 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $15.05 on Wednesday. The business has a 50 day moving average price of $14.80 and a 200 day moving average price of $17.58. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $22.89. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 215.03, a PEG ratio of 1.60 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 (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 28th. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 75.56% and a net margin of 0.75%.The company had revenue of $317.93 million for the quarter, compared to the consensus estimate of $312.33 million. During the same period in the previous year, the business posted $0.21 EPS. The company’s revenue for the quarter 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. Research analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In related news, CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $14.91, for a total transaction of $745,500.00. Following the transaction, the chief executive officer owned 1,871,418 shares of the company’s stock, valued at approximately $27,902,842.38. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EXTR. Bank of America initiated coverage on Extreme Networks in a research note on Wednesday, November 19th. They issued a “buy” rating and a $24.00 price objective on the stock. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 17th. Needham & Company LLC reduced their price objective on shares of Extreme Networks from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price objective on shares of Extreme Networks in a report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

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.