Extreme Networks, Inc. $EXTR Shares Sold by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Extreme Networks by 76.7% in the first quarter, leaving it with 43,339 shares worth about $654,000.
• Several analysts remain constructive on the stock: Rosenblatt raised its target to $39 and six analysts rate EXTR a Buy, giving it a consensus Moderate Buy with a target price of $30.83.
• Extreme Networks reported better-than-expected earnings of $0.26 per share on revenue of $316.87 million, while insiders have also been selling shares in recent months.

Y Intercept Hong Kong Ltd reduced its stake in Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 76.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,339 shares of the technology company's stock after selling 142,291 shares during the period. Y Intercept Hong Kong Ltd's holdings in Extreme Networks were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Penbrook Management LLC acquired a new stake in Extreme Networks in the first quarter worth approximately $1,260,000. Louisiana State Employees Retirement System bought a new position in Extreme Networks during the 1st quarter valued at $897,000. OP Asset Management Ltd acquired a new position in shares of Extreme Networks during the 1st quarter valued at $8,173,000. Diversified Trust Co increased its position in shares of Extreme Networks by 184.8% during the 1st quarter. Diversified Trust Co now owns 31,528 shares of the technology company's stock valued at $475,000 after purchasing an additional 20,459 shares during the period. Finally, Rockefeller Capital Management L.P. raised 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 worth $33,000 after buying an additional 1,484 shares in the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EXTR shares. Rosenblatt Securities upped their price target on shares of Extreme Networks from $29.00 to $39.00 and gave the company a "buy" rating in a report on Thursday, June 11th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. 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 increased their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 24th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $30.83.

Extreme Networks Stock Performance

EXTR stock opened at $32.91 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The stock has a market cap of $4.30 billion, a P/E ratio of 274.25, a P/E/G ratio of 2.07 and a beta of 1.77. The firm has a 50 day simple moving average of $28.42 and a 200 day simple moving average of $20.17. Extreme Networks, Inc. has a 52 week low of $13.48 and a 52 week high of $33.73.

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

Insider Transactions at Extreme Networks

In other news, CFO Kevin R. Rhodes sold 35,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $930,900.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 592,182 shares of company stock worth $15,423,978 in the last ninety days. Company insiders own 3.60% of the company's stock.

Extreme Networks 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.

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