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 the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the completion of the sale, the chief executive officer directly owned 1,621,902 shares of the company’s stock, valued at $47,359,538.40. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $27.64, for a total transaction of $1,382,000.00.
• On Tuesday, May 26th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The stock was sold at an average price of $26.10, for a total transaction of $2,610,000.00.
• On Tuesday, May 5th, Edward Meyercord sold 21,209 shares of Extreme Networks stock. The stock was sold at an average price of $23.12, for a total transaction 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 transaction 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 transaction of $1,104,000.00.
• On Wednesday, April 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $15.30, for a total transaction of $765,000.00.

Extreme Networks Price Performance

NASDAQ EXTR opened at $28.79 on Thursday. The company has a 50 day simple moving average of $20.57 and a 200-day simple moving average of $17.45. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 239.92, a price-to-earnings-growth ratio of 2.78 and a beta of 1.81. Extreme Networks, Inc. has a 52-week low of $13.48 and a 52-week high of $29.48.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million during the quarter, compared to analyst estimates of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities research analysts predict that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Extreme Networks during the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. lifted its position in Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,484 shares during the last quarter. Quarry LP lifted its position in Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,118 shares during the last quarter. CWM LLC lifted its position in Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,861 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Analysts Set New Price Targets

EXTR has been the topic of a number of research reports. UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. Lake Street Capital restated a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Weiss Ratings downgraded Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Finally, Needham & Company LLC increased their price objective on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

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.