Kevin Rhodes Sells 21,825 Shares of Extreme Networks (NASDAQ:EXTR) 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 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. The trade was a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Extreme Networks Trading Up 3.1%

EXTR stock traded up $0.70 on Friday, hitting $23.02. 1,513,753 shares of the company were exchanged, compared to its average volume of 2,057,201. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 74.26, a price-to-earnings-growth ratio of 1.50 and a beta of 1.79. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The business’s fifty day moving average is $29.30 and its two-hundred day moving average is $22.48.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million for 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 for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $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. As a group, research analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXTR. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. B. Riley Financial increased their target price on shares of Extreme Networks from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Needham & Company LLC cut their price target on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Craig Hallum reissued a “buy” rating and issued a $31.00 price objective on shares of Extreme Networks in a research report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Extreme Networks has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in Extreme Networks in the second quarter valued at about $28,000. Caitong International Asset Management Co. Ltd bought a new position in Extreme Networks during the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its position 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 worth $33,000 after acquiring an additional 1,484 shares in the last quarter. Nykredit A S acquired a new position in shares of Extreme Networks in the 2nd quarter worth approximately $48,000. Finally, CWM LLC increased its holdings in shares of Extreme Networks by 51.7% in the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock valued at $53,000 after acquiring an additional 1,084 shares during the last quarter. 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.