Edward Meyercord, President and CEO of Extreme Networks Inc (NASDAQ:EXTR), sold 28,443 shares of the company on February 1, 2024, according to a recent SEC filing.
Extreme Networks Inc is a technology company that specializes in software-driven networking solutions for enterprise, data center, and service provider customers. The company's products include network infrastructure equipment and services that enable high-performance networking and IT infrastructure.
The insider sold the shares at an average price of $13.24, resulting in a transaction amount of approximately $376,733. The sale decreased the insider's total holdings in the company, following a pattern of transactions over the past year. Over the past year, the insider has sold a total of 213,772 shares and has not made any purchases of the company's stock.
The insider transaction history for Extreme Networks Inc shows a trend of insider sales, with 11 insider sells and no insider buys over the past year.
On the valuation front, Extreme Networks Inc's shares were trading at $13.24 on the day of the insider's recent sale, giving the company a market capitalization of $1.620 billion. The price-earnings ratio of the company stands at 20.98, which is lower than the industry median of 21.685 and also below the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a share price of $13.24 and a GuruFocus Value of $16.39, Extreme Networks Inc has a price-to-GF-Value ratio of 0.81, indicating that the stock is modestly undervalued.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors often monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's valuation. The recent sale by the insider may attract the attention of current and potential shareholders as they evaluate their investment in Extreme Networks Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
