Edward Meyercord Sells 35,725 Shares of Extreme Networks, Inc. (NASDAQ:EXTR) 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 firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $17.18, for a total value of $613,755.50. Following the completion of the sale, the chief executive officer directly owned 1,541,282 shares in the company, valued at approximately $26,479,224.76. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $18.21, for a total value of $650,552.25.

Extreme Networks Trading Up 4.6%

Extreme Networks stock traded up $0.80 during trading on Monday, reaching $18.07. 1,174,359 shares of the company were exchanged, compared to its average volume of 1,214,615. The stock's 50 day simple moving average is $17.22 and its two-hundred day simple moving average is $15.47. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.93 and a quick ratio of 0.70. The company has a market capitalization of $2.41 billion, a P/E ratio of -44.07, a PEG ratio of 2.03 and a beta of 1.75. Extreme Networks, Inc. has a 52-week low of $10.10 and a 52-week high of $19.24.

Institutional Investors Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Extreme Networks by 397,835.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,276,191 shares of the technology company's stock valued at $38,103,000 after buying an additional 2,275,619 shares in the last quarter. Nuveen LLC acquired a new position in Extreme Networks during the 1st quarter worth $14,147,000. LMR Partners LLP acquired a new position in Extreme Networks during the 4th quarter worth $16,573,000. JPMorgan Chase & Co. boosted its stake in shares of Extreme Networks by 312.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,199,399 shares of the technology company's stock valued at $20,078,000 after buying an additional 908,336 shares during the period. Finally, Penn Capital Management Company LLC purchased a new position in shares of Extreme Networks in the 4th quarter valued at about $14,229,000. Institutional investors and hedge funds own 91.05% of the company's stock.

Wall Street Analysts Forecast Growth

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

Extreme Networks Company Profile

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.

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