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

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $29.20, for a total value of $2,920,000.00. Following the transaction, the chief executive officer directly owned 1,621,902 shares in the company, valued at approximately $47,359,538.40. The trade was a 5.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 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

Shares of EXTR opened at $29.48 on Wednesday. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $29.48. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 245.67, a price-to-earnings-growth ratio of 2.66 and a beta of 1.80. The firm has a 50-day simple moving average of $20.01 and a 200-day simple moving average of $17.30. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The company had revenue of $316.87 million for the quarter, compared to analyst estimates of $311.48 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’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. On average, equities research analysts anticipate that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA acquired a new stake in shares of Extreme Networks during the 1st quarter valued at approximately $10,129,000. Bank of America Corp DE lifted its position in shares of Extreme Networks by 73.5% during the 1st quarter. Bank of America Corp DE now owns 757,072 shares of the technology company’s stock valued at $11,417,000 after acquiring an additional 320,743 shares during the period. Amundi raised its position in shares of Extreme Networks by 21.4% during the 1st quarter. Amundi now owns 376,970 shares of the technology company’s stock worth $5,685,000 after purchasing an additional 66,400 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Extreme Networks by 27.1% during the 1st quarter. California State Teachers Retirement System now owns 162,500 shares of the technology company’s stock worth $2,450,000 after purchasing an additional 34,696 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Extreme Networks during the 1st quarter worth approximately $6,961,000. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXTR. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Weiss Ratings lowered Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 24th. Needham & Company LLC lifted their price objective 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 objective on Extreme Networks in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.50.

Extreme Networks Company Profile

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.