Insider Selling: Extreme Networks (NASDAQ:EXTR) Director Sells 6,796 Shares of Stock

Key Points

• Director Raj Khanna sold 6,796 shares on May 1 at an average price of $22.20 under a pre-arranged Rule 10b5-1 plan (proceeds ~$150,871), trimming his stake by 3% to 220,062 shares valued at about $4.89M; he also sold 3,204 shares on April 30 at the same price.
• Extreme Networks beat Q1 estimates with EPS of $0.26 versus $0.24 expected and revenue of $316.87M (+11.4% YoY), provided Q4 2026 EPS guidance of $0.280–0.300, and carries a consensus analyst stance of "Moderate Buy" with an average target of $25.50.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) Director Raj Khanna sold 6,796 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $22.20, for a total value of $150,871.20. Following the transaction, the director directly owned 220,062 shares in the company, valued at approximately $4,885,376.40. The trade was a 3.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Raj Khanna also recently made the following trade(s):

• On Thursday, April 30th, Raj Khanna sold 3,204 shares of Extreme Networks stock. The stock was sold at an average price of $22.20, for a total value of $71,128.80.

Extreme Networks Stock Performance

Shares of EXTR stock traded up $0.55 during mid-day trading on Monday, hitting $22.84. 3,339,135 shares of the stock were exchanged, compared to its average volume of 3,112,034. The stock's fifty day simple moving average is $15.84 and its two-hundred day simple moving average is $16.54. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 190.33, a P/E/G ratio of 2.35 and a beta of 1.77. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $23.20. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, analysts forecast that Extreme Networks, Inc. will post 0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EXTR shares. Weiss Ratings upgraded shares of Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Rosenblatt Securities reiterated a "buy" rating and set a $25.00 target price on shares of Extreme Networks in a research note on Thursday, January 29th. Needham & Company LLC increased their target price on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group set a $28.00 target price on shares of Extreme Networks in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.50.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently added to or reduced their stakes in EXTR. Alyeska Investment Group L.P. lifted its position in Extreme Networks by 301.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company's stock valued at $49,479,000 after purchasing an additional 2,232,373 shares during the period. Jain Global LLC acquired a new stake in Extreme Networks in the fourth quarter valued at about $17,361,000. Millennium Management LLC lifted its position in Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company's stock valued at $16,675,000 after purchasing an additional 781,103 shares during the period. Southernsun Asset Management LLC lifted its position in Extreme Networks by 46.9% in the fourth quarter. Southernsun Asset Management LLC now owns 1,970,886 shares of the technology company's stock valued at $32,815,000 after purchasing an additional 629,486 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Extreme Networks in the second quarter valued at about $11,265,000. Institutional investors and hedge funds own 91.05% of the company's stock.

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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