Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells $613,755.50 in Stock

Key Points

• CEO Edward Meyercord sold 35,725 shares of Extreme Networks on August 1st at an average price of $17.18, totaling approximately $613,755, reducing his ownership by 2.27%.
• Extreme Networks' stock traded up 4.6% recently, reaching $18.07, with a market capitalization of $2.41 billion.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Extreme Networks, with target prices ranging from $15.00 to $20.00.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 35,725 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $17.18, for a total transaction of $613,755.50. Following the transaction, the chief executive officer owned 1,541,282 shares in the company, valued at approximately $26,479,224.76. This trade represents a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, July 1st, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The stock was sold at an average price of $18.21, for a total transaction of $650,552.25.

Extreme Networks Trading Up 0.6%

Shares of NASDAQ:EXTR traded up $0.11 during trading on Friday, hitting $20.05. The company had a trading volume of 450,164 shares, compared to its average volume of 1,234,404. Extreme Networks, Inc. has a one year low of $10.10 and a one year high of $21.34. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.91 and a quick ratio of 0.70. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -402.34, a price-to-earnings-growth ratio of 2.37 and a beta of 1.75. The company has a fifty day simple moving average of $17.47 and a two-hundred day simple moving average of $15.53.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The technology company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.03. The business had revenue of $307.00 million during the quarter, compared to analyst estimates of $299.88 million. Extreme Networks had a positive return on equity of 82.47% and a negative net margin of 0.65%. Extreme Networks's revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

EXTR has been the topic of a number of research reports. Lake Street Capital raised Extreme Networks from a "hold" rating to a "buy" rating and set a $24.00 target price on the stock in a research report on Thursday. Needham & Company LLC increased their price target on shares of Extreme Networks from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen raised Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. UBS Group upped their price target on Extreme Networks from $15.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Rosenblatt Securities increased their target price on Extreme Networks from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $22.92.

Institutional Investors Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently bought and sold shares of EXTR. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Extreme Networks by 397,835.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after purchasing an additional 2,275,619 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Extreme Networks in the first quarter valued at approximately $14,147,000. LMR Partners LLP purchased a new position in Extreme Networks in the fourth quarter worth approximately $16,573,000. JPMorgan Chase & Co. boosted its position in shares of Extreme Networks by 312.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock worth $20,078,000 after buying an additional 908,336 shares during the period. Finally, Penn Capital Management Company LLC purchased a new position in Extreme Networks in the fourth quarter valued at $14,229,000. 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.