Kevin Rhodes Sells 35,000 Shares of Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CFO Kevin Rhodes sold 35,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $30.43, for a total value of $1,065,050.00. Following the sale, the chief financial officer owned 151,296 shares of the company’s stock, valued at approximately $4,603,937.28. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Extreme Networks Trading Up 0.1%

EXTR stock opened at $31.11 on Friday. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 259.25, a PEG ratio of 2.94 and a beta of 1.81. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The business has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $18.06. Extreme Networks, Inc. has a 52 week low of $13.48 and a 52 week high of $31.57.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $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 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group set a $28.00 price target on shares of Extreme Networks in a research report on Thursday, April 30th. Lake Street Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Extreme Networks in a research report on Thursday, April 30th. Bank of America upped their price target 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. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.33.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA purchased a new position in Extreme Networks in the 1st quarter valued at about $10,129,000. Bank of America Corp DE boosted its position in Extreme Networks by 73.5% in the 1st quarter. Bank of America Corp DE now owns 757,072 shares of the technology company’s stock valued at $11,417,000 after buying an additional 320,743 shares during the last quarter. Amundi boosted its position in Extreme Networks by 21.4% in the 1st quarter. Amundi now owns 376,970 shares of the technology company’s stock valued at $5,685,000 after buying an additional 66,400 shares during the last quarter. California State Teachers Retirement System boosted its position in Extreme Networks by 27.1% in the 1st quarter. California State Teachers Retirement System now owns 162,500 shares of the technology company’s stock valued at $2,450,000 after buying an additional 34,696 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in Extreme Networks in the 1st quarter valued at about $6,961,000. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.