Extreme Networks (NASDAQ:EXTR) CEO Sells $2,610,000.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 100,000 shares of Extreme Networks 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 in the company, valued at approximately $44,941,642.20. This trade represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a filing 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, 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 Trading Up 1.1%

Shares of EXTR stock opened at $26.51 on Friday. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 220.92, a price-to-earnings-growth ratio of 2.50 and a beta of 1.77. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $27.28. The firm’s 50 day moving average price is $19.74 and its two-hundred day moving average price is $17.23.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm 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 was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, analysts anticipate that Extreme Networks, Inc. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 24th. B. Riley Financial reiterated a “buy” rating on shares of Extreme Networks in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Lake Street Capital reiterated a “buy” rating and set a $25.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Finally, UBS Group set a $28.00 price objective on shares of Extreme Networks in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Institutional Trading of Extreme Networks

Several institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA acquired a new stake in Extreme Networks in the first quarter valued at $10,129,000. Bank of America Corp DE raised its holdings in Extreme Networks by 73.5% in the first quarter. Bank of America Corp DE now owns 757,072 shares of the technology company’s stock valued at $11,417,000 after acquiring an additional 320,743 shares in the last quarter. Amundi raised its holdings in Extreme Networks by 21.4% in the first quarter. Amundi now owns 376,970 shares of the technology company’s stock valued at $5,685,000 after acquiring an additional 66,400 shares in the last quarter. California State Teachers Retirement System raised its holdings in Extreme Networks by 27.1% in the first quarter. California State Teachers Retirement System now owns 162,500 shares of the technology company’s stock valued at $2,450,000 after acquiring an additional 34,696 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in Extreme Networks in the first quarter valued at $6,961,000. 91.05% of the stock is owned by institutional investors and hedge funds.

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.