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

by · The Markets Daily

Extreme Networks, Inc. (NASDAQ:EXTR – Get Free Report) CFO Kevin Rhodes sold 35,000 shares of Extreme Networks stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $30.43, for a total transaction of $1,065,050.00. Following the completion of the sale, the chief financial officer owned 151,296 shares in the company, valued at approximately $4,603,937.28. This trade represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Extreme Networks Price Performance

Shares of EXTR traded up $0.04 during mid-day trading on Friday, hitting $31.11. 1,676,194 shares of the company were exchanged, compared to its average volume of 2,084,610. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 259.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.81. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $31.57. The company has a 50 day moving average of $22.26 and a 200-day moving average of $17.97. 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 posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. During the same period in the previous year, the firm posted $0.21 EPS. Extreme Networks’s 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. Analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Extreme Networks by 20.8% during the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after acquiring an additional 12,667 shares during the period. AQR Capital Management LLC grew its holdings in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Extreme Networks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 3,349 shares during the period. Millennium Management LLC increased its position in Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock worth $4,226,000 after purchasing an additional 22,209 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on EXTR shares. Lake Street Capital reissued a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. Bank of America increased their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Finally, Needham & Company LLC increased their target price 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 research 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. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

Check Out Our Latest Report on Extreme Networks

Extreme Networks Company Profile

(Get Free Report)

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.

Recommended Stories