Extreme Networks (NASDAQ:EXTR) CFO Kevin Rhodes Sells 21,825 Shares of Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CFO Kevin Rhodes sold 21,825 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the sale, the chief financial officer directly owned 196,803 shares in the company, valued at $4,388,706.90. This trade represents a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Extreme Networks Trading Up 3.1%

Shares of EXTR opened at $23.02 on Friday. The business’s 50-day moving average price is $29.14 and its 200-day moving average price is $22.48. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The stock has a market cap of $3.00 billion, a PE ratio of 74.26, a P/E/G ratio of 1.47 and a beta of 1.79. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million during the quarter, compared to analyst estimates 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 was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. 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. On average, equities analysts forecast that Extreme Networks, Inc. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently modified their holdings of EXTR. Vanguard Group Inc. raised its position in Extreme Networks by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after purchasing an additional 349,199 shares during the period. M&T Bank Corp lifted its stake in shares of Extreme Networks by 547.7% in the 4th quarter. M&T Bank Corp now owns 77,937 shares of the technology company’s stock valued at $1,298,000 after acquiring an additional 65,904 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Extreme Networks in the 4th quarter valued at about $1,009,000. Penn Capital Management Company LLC boosted its holdings in Extreme Networks by 12.9% during the 4th quarter. Penn Capital Management Company LLC now owns 981,278 shares of the technology company’s stock valued at $16,378,000 after acquiring an additional 111,761 shares during the period. Finally, Impax Asset Management Group plc grew its position in Extreme Networks by 10.5% during the 4th quarter. Impax Asset Management Group plc now owns 945,178 shares of the technology company’s stock worth $15,737,000 after acquiring an additional 90,000 shares during the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Craig Hallum restated a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. Rosenblatt Securities dropped their price target on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Bank of America upped their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Lake Street Capital raised their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Extreme Networks has an average rating of “Moderate Buy” and a consensus target price of $32.25.

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.