Insider Selling: Extreme Networks (NASDAQ:EXTR) CFO Sells $486,697.50 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CFO Kevin Rhodes sold 21,825 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $22.30, for a total transaction of $486,697.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Extreme Networks Price Performance

EXTR stock opened at $23.02 on Monday. The company has a fifty day moving average price of $29.14 and a 200 day moving average price of $22.54. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $33.73. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 74.26, a price-to-earnings-growth ratio of 1.52 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data 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 company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. Extreme Networks’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm 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. Sell-side analysts expect that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Extreme Networks during the 2nd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extreme Networks during the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its holdings 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 valued at $33,000 after buying an additional 1,484 shares during the period. Nykredit A S acquired a new stake in shares of Extreme Networks in the 2nd quarter valued at approximately $48,000. Finally, CWM LLC boosted its stake in shares of Extreme Networks by 51.7% in the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after buying an additional 1,084 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on EXTR shares. Needham & Company LLC reduced their price objective on Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Rosenblatt Securities lowered their target price on Extreme Networks from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. UBS Group set a $28.00 target price on Extreme Networks in a report on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Extreme Networks in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

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.