Extreme Networks (NASDAQ:EXTR) CEO Sells $1,489,500.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00. Following the transaction, the chief executive officer directly owned 1,596,475 shares in the company, valued at approximately $47,558,990.25. This represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Edward Meyercord also recently made the following trade(s):

• On Tuesday, June 2nd, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00.
• On Monday, June 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $27.64, for a total value of $1,382,000.00.
• On Tuesday, May 26th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The stock was sold at an average price of $26.10, for a total value of $2,610,000.00.

Extreme Networks Trading Down 7.1%

Shares of EXTR opened at $24.32 on Friday. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $33.73. The firm has a market capitalization of $3.18 billion, a P/E ratio of 78.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.79. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 1.63. The stock’s fifty day simple moving average is $30.33 and its 200 day simple moving average is $21.86.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $338.55 million during the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. 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, equities research analysts forecast that Extreme Networks, Inc. will post 0.81 earnings per share for the current year.

Key Headlines Impacting Extreme Networks

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Fiscal fourth-quarter results exceeded expectations. Extreme Networks reported adjusted earnings of $0.32 per share, above the $0.29 consensus estimate, while revenue increased 10.3% year over year to $338.55 million, topping expectations of $332.49 million. Extreme Networks Reports Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Management issued guidance above current earnings expectations. First-quarter fiscal 2027 EPS guidance of $0.27-$0.29 exceeded the $0.26 consensus estimate, and revenue guidance of $334 million-$339 million was also above expectations. Full-year fiscal 2027 EPS guidance of $1.28-$1.33 surpassed the $1.21 consensus estimate, while revenue guidance was approximately $1.4 billion. Extreme Networks Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: B. Riley raised its price target to $34 and maintained a Buy rating, implying substantial potential upside from recent trading levels. B. Riley price target report
• Neutral Sentiment: Extreme Networks will participate in investor conferences during August and September. The events could provide additional visibility into demand trends, product strategy and the company’s outlook, but no new financial information was announced. Extreme Networks Announces Investor Conferences
• Neutral Sentiment: Rosenblatt and Needham lowered their price targets but retained Buy ratings. Rosenblatt reduced its target to $38 from $39, while Needham cut its target to $35 from $38. The revisions may reflect valuation or updated modeling rather than a change in the broader bullish stance.
• Negative Sentiment: CEO Edward Meyercord sold 50,000 shares worth approximately $1.49 million. The sale was conducted under a pre-arranged Rule 10b5-1 plan and represented about 3% of his holdings, limiting its significance, although repeated insider selling can weigh on sentiment. Extreme Networks CEO Insider Sale

Analyst Ratings Changes

EXTR has been the topic of several research reports. UBS Group set a $28.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC dropped their price objective on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday. Oppenheimer reissued an “outperform” rating on shares of Extreme Networks in a research note on Thursday. Lake Street Capital lifted their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of Extreme Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Institutional Trading of Extreme Networks

Several large investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. lifted its position in shares of Extreme Networks by 301.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock worth $49,479,000 after purchasing an additional 2,232,373 shares in the last quarter. Jain Global LLC acquired a new stake in Extreme Networks during the 4th quarter valued at $17,361,000. SEB Asset Management AB purchased a new stake in Extreme Networks during the 1st quarter worth $12,192,000. Millennium Management LLC increased its stake in Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock worth $16,675,000 after buying an additional 781,103 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Extreme Networks in the 2nd quarter worth $23,896,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.