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

Key Points

• Extreme Networks CFO Kevin Rhodes sold 21,825 shares for approximately $486,698 under a pre-arranged Rule 10b5-1 plan, reducing his position by 9.98% to 196,803 shares.
• The company beat quarterly expectations with EPS of $0.32 versus a $0.29 consensus and revenue of $338.55 million, up 10.3% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $32.25 compared with the reported share price of $23.02; institutional investors own 91.05% of the stock.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CFO Kevin Rhodes sold 21,825 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $22.30, for a total value of $486,697.50. Following the completion of the sale, the chief financial officer owned 196,803 shares of the company's stock, valued at $4,388,706.90. The trade was a 9.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Extreme Networks Price Performance

Shares of Extreme Networks stock traded up $0.70 during trading hours on Friday, hitting $23.02. The company's stock had a trading volume of 1,513,753 shares, compared to its average volume of 2,057,201. The business has a 50 day moving average price of $29.30 and a two-hundred day moving average price of $22.48. 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 PE ratio of 74.26, a PEG ratio of 1.50 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.81 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. During the same quarter last year, the company earned $0.25 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. 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. Analysts expect that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Bank & Trust raised its position in shares of Extreme Networks by 2.4% in the second 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 grew its stake 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 period. Envestnet Asset Management Inc. grew its stake in Extreme Networks by 3.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock worth $470,000 after acquiring an additional 683 shares during the period. ProShare Advisors LLC raised its holdings in Extreme Networks by 3.0% in the 4th quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock valued at $426,000 after acquiring an additional 735 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Extreme Networks by 7.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company's stock worth $166,000 after purchasing an additional 735 shares during the period. Hedge funds and other institutional investors own 91.05% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Rosenblatt Securities cut 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. Craig Hallum reissued a "buy" rating and set a $31.00 price objective on shares of Extreme Networks in a report on Thursday, August 6th. 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 report on Monday, June 8th. B. Riley Financial boosted their target price on Extreme Networks from $28.00 to $34.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.

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