Castleark Management LLC Invests $2.49 Million in Extreme Networks, Inc. $EXTR

Castleark Management LLC bought a new stake in shares of Extreme Networks, Inc. (NASDAQ:EXTR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 77,040 shares of the technology company’s stock, valued at approximately $2,494,000.

Several other large investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Extreme Networks during the third quarter worth $31,000. Rockefeller Capital Management L.P. increased its holdings in Extreme Networks by 313.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after buying an additional 1,484 shares in the last quarter. CWM LLC increased its holdings in Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after buying an additional 1,084 shares in the last quarter. Quarry LP raised its position 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 acquiring an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of 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 acquiring an additional 1,861 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America raised their target price on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, June 8th. UBS Group set a $28.00 price target on Extreme Networks in a report on Thursday, April 30th. B. Riley Financial increased their price target on Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Rosenblatt Securities cut their price objective on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Insider Transactions at Extreme Networks

In other 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 value of $486,697.50. Following the completion of the sale, the chief financial officer directly owned 196,803 shares in the company, valued at $4,388,706.90. This represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katayoun Motiey sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,749,479.02. This represents a 19.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 301,825 shares of company stock valued at $8,709,148 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Extreme Networks Trading Up 0.9%

EXTR stock opened at $22.84 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average is $28.62 and its 200 day moving average is $22.70. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 73.68, a PEG ratio of 1.49 and a beta of 1.79. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. 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, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

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.