Y Intercept Hong Kong Ltd Sells 142,291 Shares of Extreme Networks, Inc. $EXTR

Y Intercept Hong Kong Ltd decreased its holdings in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 76.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,339 shares of the technology company’s stock after selling 142,291 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Extreme Networks were worth $654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Penbrook Management LLC acquired a new stake in shares of Extreme Networks in the 1st quarter valued at $1,260,000. Louisiana State Employees Retirement System acquired a new position in Extreme Networks during the first quarter worth $897,000. OP Asset Management Ltd acquired a new position in Extreme Networks during the first quarter worth $8,173,000. Diversified Trust Co raised its holdings in Extreme Networks by 184.8% during the first quarter. Diversified Trust Co now owns 31,528 shares of the technology company’s stock valued at $475,000 after buying an additional 20,459 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock valued at $33,000 after buying an additional 1,484 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

EXTR opened at $32.91 on Tuesday. The stock has a market cap of $4.30 billion, a PE ratio of 274.25, a P/E/G ratio of 2.07 and a beta of 1.77. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $33.73. The stock’s 50 day simple moving average is $28.42 and its 200-day simple moving average is $20.17.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.Extreme Networks’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. 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 year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC upped their price target on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Bank of America raised their price objective on Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. UBS Group set a $28.00 target price on Extreme Networks in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.83.

Insider Buying and Selling at Extreme Networks

In other news, Director Kathleen M. Holmgren sold 19,521 shares of Extreme Networks stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $24.78, for a total transaction of $483,730.38. Following the sale, the director directly owned 219,308 shares in the company, valued at approximately $5,434,452.24. The trade was a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin R. Rhodes sold 35,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 151,296 shares in the company, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 592,182 shares of company stock worth $15,423,978. Corporate insiders own 3.60% of the company’s stock.

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.