Hillsdale Investment Management Inc. Sells 39,800 Shares of Extreme Networks, Inc. $EXTR

Key Points

• Hillsdale Investment Management reduced its Extreme Networks stake by 12% in the fourth quarter, selling 39,800 shares and leaving it with 292,780 shares worth about $4.88 million.
• Insider selling was notable as well: director Edward H. Kennedy sold 50,000 shares and director Raj Khanna sold 10,000 shares, with insiders selling 412,182 shares in the last quarter overall.
• Extreme Networks beat quarterly earnings and revenue expectations, posting EPS of $0.26 on revenue of $316.87 million, while analysts currently maintain a Moderate Buy consensus with an average target price of $25.50.

Hillsdale Investment Management Inc. trimmed its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 292,780 shares of the technology company's stock after selling 39,800 shares during the period. Hillsdale Investment Management Inc. owned about 0.22% of Extreme Networks worth $4,875,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Extreme Networks by 3.1% during the third quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock worth $470,000 after acquiring an additional 683 shares during the period. Arizona State Retirement System increased its position in shares of Extreme Networks by 1.8% during the third quarter. Arizona State Retirement System now owns 39,405 shares of the technology company's stock worth $814,000 after acquiring an additional 685 shares during the period. ProShare Advisors LLC increased its position in shares of Extreme Networks by 3.0% during the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock worth $426,000 after acquiring an additional 735 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Extreme Networks by 3.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,633 shares of the technology company's stock worth $510,000 after acquiring an additional 900 shares during the period. Finally, CWM LLC increased its position in shares of Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company's stock worth $53,000 after acquiring an additional 1,084 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Edward H. Kennedy sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 576,045 shares in the company, valued at approximately $13,168,388.70. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $23.20, for a total transaction of $232,000.00. Following the transaction, the director owned 210,062 shares in the company, valued at approximately $4,873,438.40. This represents 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. In the last quarter, insiders sold 412,182 shares of company stock valued at $9,456,028. 3.60% of the stock is currently owned by corporate insiders.

Extreme Networks Price Performance

NASDAQ EXTR opened at $26.51 on Friday. 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 firm's 50 day moving average price is $19.74 and its 200-day moving average price is $17.23. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $27.28. The company has a market cap of $3.47 billion, a PE ratio of 220.92, a P/E/G ratio of 2.50 and a beta of 1.77.

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

Analyst Ratings Changes

A number of brokerages have recently commented on EXTR. Lake Street Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. Needham & Company LLC raised their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. B. Riley Financial reaffirmed a "buy" rating on shares of Extreme Networks in a research report 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 report on Sunday, May 24th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.50.

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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