Edward Meyercord Sells 50,000 Shares of Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the business’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 directly owned 1,721,902 shares of the company’s stock, valued at $47,593,371.28. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 shares were 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 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 shares were 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 shares were 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 Stock Down 2.3%

Extreme Networks stock opened at $28.79 on Thursday. The stock has a market capitalization of $3.77 billion, a PE ratio of 239.92, a price-to-earnings-growth ratio of 2.78 and a beta of 1.81. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $29.48. The business 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.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, analysts anticipate that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Institutional Trading of Extreme Networks

A number of institutional investors have recently made changes to their positions in EXTR. Royal Bank of Canada boosted its stake in shares of Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after acquiring an additional 12,667 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Extreme Networks by 6.6% in the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after purchasing an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Extreme Networks by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock valued at $1,015,000 after purchasing an additional 3,349 shares during the last quarter. Millennium Management LLC increased its holdings 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 valued at $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company’s stock worth $4,226,000 after buying an additional 22,209 shares in the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a report on Thursday, April 30th. UBS Group set a $28.00 price objective on Extreme Networks in a report on Thursday, April 30th. B. Riley Financial reaffirmed a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 24th. Finally, Needham & Company LLC lifted their price target on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.