Insider Selling: Extreme Networks (NASDAQ:EXTR) CEO Sells $1,816,920.46 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 78,791 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $23.06, for a total value of $1,816,920.46. Following the completion of the sale, the chief executive officer directly owned 1,818,479 shares of the company’s stock, valued at $41,934,125.74. The trade was a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 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 Up 2.2%

Extreme Networks stock opened at $24.04 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 200.33, a PEG ratio of 2.22 and a beta of 1.77. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $24.21. The business has a fifty day moving average price of $16.42 and a 200-day moving average price of $16.60.

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 analysts’ consensus estimates of $0.24 by $0.02. The firm 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 quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Equities research analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EXTR. Rosenblatt Securities reissued a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, January 29th. Weiss Ratings raised Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded Extreme Networks from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 3rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Extreme Networks by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,112,223 shares of the technology company’s stock worth $318,219,000 after buying an additional 349,199 shares during the last quarter. State Street Corp lifted its holdings in shares of Extreme Networks by 3.9% in the 4th quarter. State Street Corp now owns 5,664,493 shares of the technology company’s stock valued at $94,314,000 after buying an additional 213,094 shares during the period. Paradigm Capital Management Inc. NY lifted its holdings in shares of Extreme Networks by 0.8% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 4,972,500 shares of the technology company’s stock valued at $82,792,000 after buying an additional 40,000 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Extreme Networks by 13.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,017,063 shares of the technology company’s stock valued at $50,234,000 after buying an additional 358,670 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings 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 period. 91.05% of the stock is owned by hedge funds and other institutional investors.

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.