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

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $21.77, for a total value of $1,088,500.00. Following the sale, the chief executive officer owned 1,710,097 shares in the company, valued at approximately $37,228,811.69. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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, August 3rd, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $29.79, for a total value of $1,489,500.00.

Extreme Networks Price Performance

Shares of EXTR stock traded up $1.15 during mid-day trading on Friday, reaching $23.12. The stock had a trading volume of 1,953,303 shares, compared to its average volume of 1,959,033. The company has a market cap of $3.06 billion, a P/E ratio of 74.58, a price-to-earnings-growth ratio of 1.41 and a beta of 1.76. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The business has a 50-day simple moving average of $23.78 and a 200 day simple moving average of $24.08.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently modified their holdings of the company. Bienville Capital Management LLC acquired a new stake in Extreme Networks during the second quarter worth approximately $263,000. WINTON GROUP Ltd raised its holdings in Extreme Networks by 326.4% in the 2nd quarter. WINTON GROUP Ltd now owns 43,464 shares of the technology company’s stock valued at $1,407,000 after acquiring an additional 33,270 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Extreme Networks during the 2nd quarter worth $25,000. Nykredit A S purchased a new position in shares of Extreme Networks during the 2nd quarter worth $48,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Extreme Networks by 2,426.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,385 shares of the technology company’s stock worth $110,000 after purchasing an additional 3,251 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EXTR shares. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, August 31st. Needham & Company LLC reduced their target price on Extreme Networks from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen raised Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Lake Street Capital raised their price target on Extreme Networks from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Rosenblatt Securities cut their price target on Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.

The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.