Extreme Networks (NASDAQ:EXTR) CEO Edward Meyercord Sells 100,000 Shares of Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 100,000 shares of the business’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 transaction of $2,610,000.00. Following the transaction, the chief executive officer directly owned 1,721,902 shares of the company’s stock, valued at approximately $44,941,642.20. This represents a 5.49% decrease in their position. The sale was disclosed in a filing 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, 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 transaction 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 transaction 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 transaction 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 transaction of $765,000.00.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $26.21 on Friday. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $27.28. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 1.89. The stock has a market cap of $3.43 billion, a P/E ratio of 218.42, a P/E/G ratio of 2.52 and a beta of 1.77. The company has a 50 day moving average of $19.51 and a 200 day moving average of $17.16.

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. The company had revenue of $316.87 million for the quarter, compared to analysts’ expectations of $311.48 million. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. Extreme Networks’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, sell-side analysts forecast that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EXTR has been the topic of several research analyst reports. Needham & Company LLC upped their price objective on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Weiss Ratings cut shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Lake Street Capital restated a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, April 30th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, January 29th. 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, Extreme Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.50.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently made changes to their positions in EXTR. 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 worth $49,479,000 after acquiring an additional 2,232,373 shares during the last quarter. Jain Global LLC bought a new stake in shares of Extreme Networks in the 4th quarter worth approximately $17,361,000. SEB Asset Management AB bought a new stake in shares of Extreme Networks in the 1st quarter worth approximately $12,192,000. Millennium Management LLC lifted its holdings in shares of 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 acquiring an additional 781,103 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in shares of Extreme Networks in the 1st quarter worth approximately $10,129,000. 91.05% of the stock is currently owned by 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.