Penn Capital Management Company LLC Acquires 111,761 Shares of Extreme Networks, Inc. $EXTR

Penn Capital Management Company LLC raised its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 12.9% during the fourth quarter, HoldingsChannel reports. The fund owned 981,278 shares of the technology company’s stock after purchasing an additional 111,761 shares during the quarter. Extreme Networks comprises about 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 26th biggest holding. Penn Capital Management Company LLC’s holdings in Extreme Networks were worth $16,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Extreme Networks in the third quarter worth $31,000. Quarry LP increased its holdings in shares of Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,118 shares during the period. CWM LLC increased its holdings in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,084 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Extreme Networks in the third quarter worth $70,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Extreme Networks in the third quarter worth $91,000. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Up 5.5%

Shares of NASDAQ:EXTR opened at $27.02 on Wednesday. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $27.10. The firm has a fifty day moving average of $19.05 and a 200 day moving average of $17.04. The firm has a market capitalization of $3.53 billion, a PE ratio of 225.17, a price-to-earnings-growth ratio of 2.42 and a beta of 1.77. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR) last announced its 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 net margin of 1.30% and a return on equity of 81.88%. The company had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. During the same period in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, research analysts anticipate that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 50,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $22.86, for a total transaction of $1,143,000.00. Following the completion of the sale, the director directly owned 576,045 shares in the company, valued at $13,168,388.70. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Raj Khanna sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $23.20, for a total transaction of $232,000.00. Following the sale, the director owned 210,062 shares of the company’s stock, valued at approximately $4,873,438.40. The trade was a 4.54% decrease in their ownership of the stock. 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 sold 297,182 shares of company stock valued at $6,448,528. 3.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EXTR. UBS Group set a $28.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, January 29th. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

About Extreme Networks

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.