Extreme Networks, Inc. $EXTR Shares Sold by Mirador Capital Partners LP

Key Points

• Mirador Capital Partners cut its Extreme Networks stake by 11.1% in the third quarter, selling 46,233 shares and retaining 368,591 shares valued at approximately $7.9 million. Institutional investors collectively own 91.05% of the company.
• Extreme Networks exceeded quarterly expectations with EPS of $0.32 versus a $0.29 consensus and revenue of $338.55 million, up 10.3% year over year. Management guided for fiscal 2027 EPS of $1.28–$1.33.
• Analyst sentiment remains generally positive, with seven Buy ratings and an average target price of $32.25 versus the stock’s $24.19 price, although one firm issued a Sell rating. Company insiders have sold 121,825 shares worth about $3.1 million over the past 90 days.

Mirador Capital Partners LP reduced its position in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 11.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 368,591 shares of the technology company's stock after selling 46,233 shares during the period. Mirador Capital Partners LP owned approximately 0.28% of Extreme Networks worth $7,906,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in Extreme Networks during the second quarter worth $25,000. CoreCap Advisors LLC increased its position in shares of Extreme Networks by 72.3% during the third quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company's stock worth $26,000 after acquiring an additional 504 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Extreme Networks in the 2nd quarter worth about $28,000. Rockefeller Capital Management L.P. raised its holdings 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 worth $33,000 after acquiring an additional 1,484 shares during the last quarter. Finally, Nykredit A S bought a new position in Extreme Networks in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 91.05% of the company's stock.

Extreme Networks Trading Up 0.0%

Shares of EXTR stock opened at $24.19 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 78.03, a PEG ratio of 1.59 and a beta of 1.76. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $33.73. The company has a 50-day simple moving average of $23.09 and a two-hundred day simple moving average of $24.40.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on EXTR. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Needham & Company LLC dropped their target price on Extreme Networks from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Craig Hallum reaffirmed a "buy" rating and set a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. B. Riley Financial upped their price target on Extreme Networks from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Weiss Ratings lowered Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.25.

Insider Buying and Selling

In other news, CEO Edward Meyercord sold 50,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the completion of the sale, the chief executive officer directly owned 1,710,097 shares of the company's stock, valued at $37,228,811.69. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin R. Rhodes sold 21,825 shares of Extreme Networks stock in a transaction on Friday, August 21st. The stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the sale, the chief financial officer owned 196,803 shares in the company, valued at $4,388,706.90. The trade was a 9.98% 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. Insiders have sold 121,825 shares of company stock valued at $3,064,698 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Extreme Networks Profile

Extreme Networks, Inc NASDAQ: EXTR develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.

The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.

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