Extreme Networks (NASDAQ:EXTR) Insider Katayoun Motiey Sells 7,500 Shares

Key Points

• Extreme Networks insider Katayoun Motiey sold 7,500 shares on June 1 at an average price of $28.00, for proceeds of $210,000. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Motiey has also sold additional Extreme Networks shares recently, including 15,000 shares on May 26 and 7,661 shares on May 14, indicating a pattern of insider selling over the past few weeks.
• The company reported better-than-expected quarterly results, with EPS of $0.26 versus estimates of $0.24 and revenue of $316.87 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $25.50.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) insider Katayoun Motiey sold 7,500 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $28.00, for a total transaction of $210,000.00. Following the completion of the transaction, the insider owned 165,834 shares in the company, valued at $4,643,352. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katayoun Motiey also recently made the following trade(s):

• On Tuesday, May 26th, Katayoun Motiey sold 15,000 shares of Extreme Networks stock. The stock was sold at an average price of $26.50, for a total transaction of $397,500.00.
• On Thursday, May 14th, Katayoun Motiey sold 7,661 shares of Extreme Networks stock. The stock was sold at an average price of $25.00, for a total transaction of $191,525.00.

Extreme Networks Stock Performance

Shares of EXTR traded up $1.35 during mid-day trading on Tuesday, reaching $29.48. 1,925,983 shares of the company's stock were exchanged, compared to its average volume of 2,085,000. The business's fifty day simple moving average is $20.01 and its 200-day simple moving average is $17.30. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $29.48. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market capitalization of $3.86 billion, a PE ratio of 245.67, a price-to-earnings-growth ratio of 2.50 and a beta of 1.80.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The company had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Lake Street Capital reiterated a "buy" rating and issued a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Weiss Ratings downgraded Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. UBS Group set a $28.00 target price on Extreme Networks in a report on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 24th. Finally, Needham & Company LLC increased their price objective on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Extreme Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.50.

Hedge Funds Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Extreme Networks by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company's stock worth $318,219,000 after buying an additional 349,199 shares during the last quarter. State Street Corp lifted its position in shares of Extreme Networks by 3.9% during the 4th quarter. State Street Corp now owns 5,664,493 shares of the technology company's stock valued at $94,314,000 after acquiring an additional 213,094 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in shares of Extreme Networks by 5.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 5,234,900 shares of the technology company's stock worth $78,942,000 after acquiring an additional 262,400 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Extreme Networks by 7.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,247,680 shares of the technology company's stock worth $48,975,000 after acquiring an additional 230,617 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Extreme Networks by 301.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company's stock worth $49,479,000 after acquiring an additional 2,232,373 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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