Extreme Networks (NASDAQ:EXTR) CEO Sells $1,382,000.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $27.64, for a total value of $1,382,000.00. Following the completion of the transaction, the chief executive officer owned 1,721,902 shares of the company’s stock, valued at approximately $47,593,371.28. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, June 2nd, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The shares were sold at an average price of $29.20, for a total value of $2,920,000.00.
• 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 value 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 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 stock was sold at an average price of $15.30, for a total value of $765,000.00.

Extreme Networks Stock Performance

NASDAQ:EXTR opened at $29.61 on Friday. The stock has a market cap of $3.87 billion, a P/E ratio of 246.75, a PEG ratio of 2.72 and a beta of 1.81. The stock has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $17.54. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $29.78.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EXTR shares. 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 research note on Thursday, April 30th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Finally, Lake Street Capital reissued a “buy” rating and set a $25.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Hedge Funds Weigh In On Extreme Networks

Large investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its position in shares of Extreme Networks by 301.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after buying an additional 2,232,373 shares during the last quarter. Jain Global LLC acquired a new position in Extreme Networks during the 4th quarter worth approximately $17,361,000. SEB Asset Management AB acquired a new position in Extreme Networks during the 1st quarter worth approximately $12,192,000. Millennium Management LLC raised its stake in shares of Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Extreme Networks in the first quarter worth approximately $10,129,000. 91.05% of the stock is currently owned by institutional investors.

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.