Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells $549,807.75 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the completion of the sale, the chief executive officer now directly owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Extreme Networks Trading Up 2.7 %

EXTR opened at $15.79 on Thursday. The company’s 50 day moving average price is $17.11 and its two-hundred day moving average price is $15.65. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -16.80, a PEG ratio of 3.44 and a beta of 1.73. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. As a group, research analysts predict that Extreme Networks, Inc. will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on EXTR shares. B. Riley raised their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities raised their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Extreme Networks in a research report on Thursday, January 30th. Finally, Craig Hallum upped their price target on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.30.

Hedge Funds Weigh In On Extreme Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Extreme Networks during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC increased its position in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after buying an additional 1,035 shares during the period. Byrne Asset Management LLC bought a new position in Extreme Networks during the fourth quarter worth $30,000. Smartleaf Asset Management LLC lifted its holdings in Extreme Networks by 385.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company’s stock valued at $37,000 after buying an additional 1,733 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Extreme Networks by 31.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock valued at $52,000 after acquiring an additional 741 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.