South Street Advisors LLC Sells 62,720 Shares of Extreme Networks, Inc. $EXTR

Key Points

• South Street Advisors LLC reduced its Extreme Networks stake by 21.2% in the fourth quarter, selling 62,720 shares and leaving it with 233,696 shares valued at about $3.89 million.
• Institutional ownership remains high, with 91.05% of Extreme Networks shares held by institutional investors, while several funds increased positions in the latest quarter.
• Analysts are mostly constructive on EXTR: the stock carries a “Moderate Buy” consensus with an average price target of $25.50, though Weiss Ratings recently downgraded it to “sell.”

South Street Advisors LLC trimmed its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR - Free Report) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,696 shares of the technology company's stock after selling 62,720 shares during the period. South Street Advisors LLC owned approximately 0.17% of Extreme Networks worth $3,891,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Royal Bank of Canada boosted its position in Extreme Networks by 20.8% in the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company's stock valued at $974,000 after buying an additional 12,667 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Extreme Networks by 6.6% in the 1st quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company's stock worth $455,000 after purchasing an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Extreme Networks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company's stock worth $1,015,000 after purchasing an additional 3,349 shares during the last quarter. Millennium Management LLC boosted its position in shares of Extreme Networks by 163.0% in the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company's stock worth $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Extreme Networks by 7.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company's stock worth $4,226,000 after purchasing an additional 22,209 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EXTR shares. B. Riley Financial reiterated a "buy" rating on shares of Extreme Networks in a report on Thursday, April 30th. UBS Group set a $28.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Weiss Ratings cut shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 15th. Needham & Company LLC upped their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.50.

Insider Buying and Selling at Extreme Networks

In other Extreme Networks news, Director Edward H. Kennedy sold 50,000 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $22.86, for a total value of $1,143,000.00. Following the sale, the director owned 576,045 shares in the company, valued at approximately $13,168,388.70. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raj Khanna sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $23.20, for a total value of $232,000.00. Following the completion of the sale, the director owned 210,062 shares in the company, valued at $4,873,438.40. The trade was 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. Insiders have sold a total of 412,182 shares of company stock worth $9,456,028 over the last three months. 3.60% of the stock is owned by corporate insiders.

Extreme Networks Price Performance

Shares of EXTR opened at $26.21 on Friday. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $27.28. The firm has a market capitalization of $3.43 billion, a PE ratio of 218.42, a PEG ratio of 2.52 and a beta of 1.77. The company's 50-day moving average is $19.51 and its 200-day moving average is $17.16. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The firm had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. During the same quarter last year, the company earned $0.21 EPS. The company's 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. Equities analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current year.

Extreme Networks Company 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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