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Raj Khanna, a Director at Extreme Networks INC (NASDAQ:EXTR), sold a total of $172,503 in common stock on June 23 and 24. The sales were executed at prices ranging from $17.2035 to $17.4346 per share, close to the current trading price of $17.71. According to InvestingPro data, the stock has shown strong momentum, trading well above its 52-week low of $10.10.
On June 23, Khanna sold 7,973 shares at a weighted average price of $17.2035, with individual sales prices ranging from $17.20 to $17.2050. Following this, on June 24, Khanna sold an additional 2,027 shares at a weighted average price of $17.4346, with prices ranging from $17.3950 to $17.450.
The transactions were executed under a pre-arranged 10b5-1 trading plan established on March 3, 2025. The shares are held in The Khanna 2002 Revocable Trust, with Raj Khanna and Madhu Khanna as Trustees. Following these transactions, Khanna directly and indirectly owns 231,708 shares of Extreme Networks.
In other recent news, Extreme Networks reported strong financial results for the third quarter of fiscal year 2025, surpassing both earnings and revenue forecasts. The company achieved an earnings per share of $0.21, exceeding the anticipated $0.18, and reported revenue of $285 million, higher than the expected $279.16 million. Revenue grew by 35% year-over-year, driven by significant increases in product and SaaS sales. The company also launched its Extreme Platform One, a new AI-native software platform that integrates various network management aspects. According to Needham, which reiterated its Buy rating and $20 price target for Extreme Networks, the response to Platform One has been positive, with expectations for it to boost software sales by Fiscal Year 2026. Needham’s confidence is bolstered by the anticipated improvement in quarterly results by the end of 2025. Extreme Networks provided guidance for the fourth quarter of 2025, projecting revenue between $295 million and $305 million, indicating continued growth.
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