Edward Meyercord Sells 100,000 Shares of Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 100,000 shares of Extreme Networks stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00. Following the completion of the transaction, the chief executive officer owned 1,721,902 shares in the company, valued at approximately $44,941,642.20. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edward Meyercord also recently made the following trade(s):

• On Tuesday, May 5th, Edward Meyercord sold 21,209 shares of Extreme Networks stock. The shares were sold at an average price of $23.12, for a total value of $490,352.08.
• On Monday, May 4th, Edward Meyercord sold 78,791 shares of Extreme Networks stock. The stock was sold at an average price of $23.06, for a total value of $1,816,920.46.
• On Friday, May 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $22.08, for a total value of $1,104,000.00.
• On Wednesday, April 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $15.30, for a total value of $765,000.00.

Extreme Networks Trading Up 1.1%

NASDAQ:EXTR opened at $26.51 on Friday. The stock has a fifty day simple moving average of $19.74 and a 200 day simple moving average of $17.23. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 220.92, a price-to-earnings-growth ratio of 2.48 and a beta of 1.77. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $27.28. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89.

Extreme Networks (NASDAQ:EXTR) 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 firm had revenue of $316.87 million for the quarter, compared to the consensus estimate of $311.48 million. During the same quarter in the previous year, the company earned $0.21 EPS. The business’s revenue for the quarter 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. Sell-side analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on EXTR. 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. B. Riley Financial restated a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Needham & Company LLC lifted their price target on Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, UBS Group set a $28.00 price target on Extreme Networks in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in shares of Extreme Networks by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company’s stock worth $470,000 after purchasing an additional 683 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Extreme Networks by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 39,405 shares of the technology company’s stock valued at $814,000 after buying an additional 685 shares in the last quarter. ProShare Advisors LLC increased its holdings in Extreme Networks by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company’s stock worth $426,000 after buying an additional 735 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Extreme Networks by 7.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,001 shares of the technology company’s stock worth $166,000 after buying an additional 735 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Extreme Networks by 3.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,633 shares of the technology company’s stock valued at $510,000 after acquiring an additional 900 shares in the last quarter. 91.05% of the stock is owned by hedge funds and other institutional investors.

About Extreme Networks

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.