Aurora Investment Counsel Buys Shares of 170,866 Extreme Networks, Inc. $EXTR

Key Points

• Aurora Investment Counsel opened a new position in Extreme Networks, buying 170,866 shares worth about $2.58 million in the first quarter. The stake represents 1.4% of Aurora’s portfolio and about 0.13% of the company.
• Insider selling was notable, with CFO Kevin Rhodes selling 35,000 shares and CEO Edward Meyercord selling 100,000 shares in June. Across the last quarter, insiders sold 592,182 shares valued at $15.42 million.
• Extreme Networks reported better-than-expected quarterly results, posting EPS of $0.26 versus the $0.24 estimate and revenue of $316.87 million, up 11.4% year over year. Analysts remain generally constructive, with six Buy ratings and an average price target of $30.83.

Aurora Investment Counsel bought a new position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 170,866 shares of the technology company's stock, valued at approximately $2,577,000. Extreme Networks makes up 1.4% of Aurora Investment Counsel's portfolio, making the stock its 14th largest holding. Aurora Investment Counsel owned about 0.13% of Extreme Networks as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EXTR. Caitong International Asset Management Co. Ltd purchased a new stake in Extreme Networks in the third quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its stake in shares of Extreme Networks by 313.7% in 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 last quarter. Quarry LP boosted its holdings in 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 period. CWM LLC boosted its holdings in Extreme Networks by 51.7% during 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 period. Finally, Advisors Asset Management Inc. grew its position in Extreme Networks by 136.8% during the 4th 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 last quarter. Institutional investors own 91.05% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kevin R. Rhodes sold 35,000 shares of the 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 owned 151,296 shares in the company, valued at $4,603,937.28. This represents a 18.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Meyercord sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the sale, the chief executive officer owned 1,621,902 shares in the company, valued at $47,359,538.40. This represents a 5.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 592,182 shares of company stock valued at $15,423,978. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXTR. Weiss Ratings upgraded shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 6th. Needham & Company LLC raised their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. B. Riley Financial restated a "buy" rating on shares of Extreme Networks in a research report on Thursday, April 30th. Lake Street Capital upped their price target on Extreme Networks from $25.00 to $34.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Finally, Rosenblatt Securities lifted their price objective on Extreme Networks from $29.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Extreme Networks has an average rating of "Moderate Buy" and an average price target of $30.83.

Extreme Networks Stock Up 1.9%

EXTR stock opened at $30.34 on Friday. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The firm has a market cap of $3.97 billion, a PE ratio of 252.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.77. The business has a 50 day moving average of $28.99 and a 200 day moving average of $20.54.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $316.87 million for the quarter, compared to analysts' expectations of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, research analysts forecast that Extreme Networks, Inc. will post 0.53 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.

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