Edward Meyercord Sells 35,725 Shares of Extreme Networks, Inc. (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 35,725 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $18.21, for a total value of $650,552.25. Following the sale, the chief executive officer owned 1,541,282 shares in the company, valued at $28,066,745.22. The trade was a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 1st, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The shares were sold at an average price of $13.73, for a total value of $490,504.25.

Extreme Networks Trading Up 1.7%

Shares of NASDAQ:EXTR traded up $0.32 during trading on Thursday, reaching $18.76. 264,479 shares of the company traded hands, compared to its average volume of 1,228,251. The company has a current ratio of 0.93, a quick ratio of 0.70 and a debt-to-equity ratio of 2.33. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -45.74, a P/E/G ratio of 2.17 and a beta of 1.73. The business's fifty day moving average is $15.90 and its 200-day moving average is $15.41.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Extreme Networks had a negative net margin of 4.94% and a positive return on equity of 13.79%. The business had revenue of $284.51 million during the quarter, compared to analysts' expectations of $280.32 million. During the same quarter in the prior year, the company posted ($0.19) EPS. The firm's revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EXTR. Rosenblatt Securities upped their target price on Extreme Networks from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Lake Street Capital cut their price objective on shares of Extreme Networks from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Thursday, May 22nd. UBS Group lowered their price target on shares of Extreme Networks from $16.50 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.92.

Institutional Trading of Extreme Networks

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC raised its position in Extreme Networks by 603.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,941 shares of the technology company's stock valued at $32,000 after purchasing an additional 1,665 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Extreme Networks during the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its holdings in shares of Extreme Networks by 385.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,183 shares of the technology company's stock valued at $37,000 after acquiring an additional 1,733 shares in the last quarter. Quarry LP raised its holdings in shares of Extreme Networks by 42.1% during the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $41,000 after acquiring an additional 719 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Extreme Networks by 105.6% in the first quarter. GAMMA Investing LLC now owns 3,170 shares of the technology company's stock worth $42,000 after acquiring an additional 1,628 shares during the period. 91.05% of the stock is owned by institutional investors.

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.