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Katayoun Motiey, Chief Legal Administrative Sustainability Officer at Extreme Networks Inc. (NASDAQ:EXTR), recently sold 37,000 shares of the company's common stock. The transactions, executed on December 11, were conducted at prices ranging from $17.33 to $17.60 per share, resulting in a total value of approximately $646,471. The sale comes as the stock has shown remarkable strength, posting a 50.87% gain over the past six months, with the current market capitalization standing at $2.4 billion.
Following these transactions, Motiey holds 117,613 shares indirectly through The Katayoun Motiey Trust. The sales were made under a pre-established 10b5-1 trading plan, which was adopted on September 10, 2024. According to InvestingPro analysis, the stock is currently trading near its 52-week high of $18.77 and appears slightly overvalued based on Fair Value calculations. Discover more insights and 12 additional ProTips for EXTR in the comprehensive Pro Research Report.
In other recent news, Extreme Networks reported strong Q1 FY 2025 results, exceeding expectations with a revenue of $269.2 million and earnings per share of $0.17. The firm experienced a 5% sequential increase in revenue, fueled by robust product sales and subscription contracts. In addition, the company has seen a significant 23% year-over-year growth in SaaS Annual Recurring Revenue (ARR).
Rosenblatt Securities has raised its price target for Extreme Networks to $21.00, maintaining a Buy rating on the company's shares. This adjustment is based on the company's product strength, market share gains, and the successful introduction of the Extreme Subscription Private Offering (ESPO). Rosenblatt predicts that Extreme Networks will achieve double-digit growth in FY 2026, suggesting that operating margins of 20% or more could be attainable by the second half of 2026.
Despite project delays in EMEA, Extreme Networks continues to gain market share from competitors like Cisco (NASDAQ:CSCO), Juniper, and HPE. Partnerships with AWS and Microsoft (NASDAQ:MSFT) are also contributing to enhancing AI capabilities on the platform. These developments are part of the company's ongoing efforts to maintain growth and competitiveness in the market.
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