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 firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.10, for a total value of $2,610,000.00. Following the completion of the sale, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at $44,941,642.20. This trade represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, 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 1.7%

Shares of NASDAQ:EXTR traded down $0.46 during mid-day trading on Thursday, hitting $26.21. 1,400,671 shares of the company traded hands, compared to its average volume of 2,077,498. The stock has a market cap of $3.43 billion, a P/E ratio of 218.42, a P/E/G ratio of 2.55 and a beta of 1.77. 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 12-month low of $13.48 and a 12-month high of $27.28. The stock has a 50-day moving average price of $19.29 and a two-hundred day moving average price of $17.10.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data 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. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, equities research analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Lake Street Capital restated a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a research report on Thursday, April 30th. Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Needham & Company LLC boosted their target price on Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a research report on Thursday, January 29th. Finally, UBS Group set a $28.00 target price on Extreme Networks in a research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.50.

Hedge Funds Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently modified their holdings of EXTR. Royal Bank of Canada boosted its holdings in shares of Extreme Networks by 20.8% in the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company’s stock worth $974,000 after purchasing an additional 12,667 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Extreme Networks by 6.6% during the 1st quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company’s stock valued at $455,000 after acquiring an additional 2,122 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Extreme Networks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company’s stock worth $1,015,000 after purchasing an additional 3,349 shares during the period. Millennium Management LLC increased its stake in Extreme Networks by 163.0% in the 1st 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Extreme Networks by 7.5% in the 1st 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 purchasing an additional 22,209 shares during the period. 91.05% of the stock is currently owned by hedge funds and other 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.