Lisanti Capital Growth LLC Buys Shares of 183,095 Extreme Networks, Inc. $EXTR

Lisanti Capital Growth LLC bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) during the second quarter, HoldingsChannel.com reports. The fund bought 183,095 shares of the technology company’s stock, valued at approximately $5,927,000. Extreme Networks makes up about 1.3% of Lisanti Capital Growth LLC’s holdings, making the stock its 27th largest holding.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Extreme Networks in the third quarter worth approximately $31,000. Rockefeller Capital Management L.P. boosted its holdings in Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,484 shares during the period. CWM LLC grew its position in Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after acquiring an additional 1,084 shares during the last quarter. Quarry LP grew its position in Extreme Networks by 74.9% in 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. Finally, Advisors Asset Management Inc. increased its stake in Extreme Networks by 136.8% in the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,861 shares during the period. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Down 4.0%

NASDAQ:EXTR opened at $22.79 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73. The company has a 50-day moving average of $29.48 and a 200 day moving average of $22.42. The firm has a market cap of $2.97 billion, a PE ratio of 73.52, a price-to-earnings-growth ratio of 1.56 and a beta of 1.79.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter last year, the firm posted $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. As a group, research analysts anticipate that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Bank of America upped their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Rosenblatt Securities reduced their price target on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. B. Riley Financial lifted their price objective on shares of Extreme Networks from $28.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Insider Activity

In related news, CFO Kevin R. Rhodes sold 35,000 shares of Extreme Networks stock in a transaction that occurred 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 directly owned 151,296 shares of the company’s stock, valued at $4,603,937.28. This trade represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Katayoun Motiey sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $31.03, for a total transaction of $930,900.00. Following the completion of the transaction, the insider directly owned 120,834 shares of the company’s stock, valued at $3,749,479.02. This trade represents a 19.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 395,000 shares of company stock worth $11,229,950. 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.