Extreme Networks, Inc. $EXTR Stock: Mirador Capital Partners LP Reduces Position

Mirador Capital Partners LP trimmed its position in shares of Extreme Networks, Inc. (NASDAQ:EXTR) by 11.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,591 shares of the technology company’s stock after selling 46,233 shares during the period. Mirador Capital Partners LP’s holdings in Extreme Networks were worth $7,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. First Bank & Trust lifted its position in shares of Extreme Networks by 2.4% during the 2nd quarter. First Bank & Trust now owns 13,191 shares of the technology company’s stock valued at $427,000 after buying an additional 306 shares during the last quarter. GAMMA Investing LLC increased its holdings in Extreme Networks by 13.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,001 shares of the technology company’s stock worth $130,000 after acquiring an additional 465 shares during the last quarter. CoreCap Advisors LLC raised its stake in Extreme Networks by 72.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,201 shares of the technology company’s stock valued at $26,000 after acquiring an additional 504 shares during the period. PNC Financial Services Group Inc. raised its stake in Extreme Networks by 7.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock valued at $166,000 after acquiring an additional 735 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Extreme Networks during the second quarter valued at about $25,000. 91.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kevin R. Rhodes sold 21,825 shares of Extreme Networks stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the completion of the sale, the chief financial officer owned 196,803 shares in the company, valued at approximately $4,388,706.90. This trade represents a 9.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the completion of the transaction, the chief executive officer owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This trade represents a 3.04% 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. Over the last 90 days, insiders have sold 121,825 shares of company stock valued at $3,064,698. 3.20% of the stock is owned by company insiders.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $24.19 on Friday. The company has a 50 day moving average of $23.09 and a 200 day moving average of $24.40. The stock has a market cap of $3.20 billion, a P/E ratio of 78.03, a P/E/G ratio of 1.59 and a beta of 1.76. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $33.73. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. 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. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EXTR has been the subject of several recent research reports. Rosenblatt Securities reduced their target price on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. B. Riley Financial raised their price objective on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Needham & Company LLC lowered their target price on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Finally, Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.25.

About Extreme Networks

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.