Extreme Networks (NASDAQ:EXTR) CEO Edward Meyercord Sells 100,000 Shares

Key Points

• Extreme Networks CEO Edward Meyercord sold 100,000 shares on June 2 at an average price of $29.20, generating about $2.92 million. The sale was executed under a pre-arranged Rule 10b5-1 trading plan.
• The transaction reduced Meyercord’s direct ownership by 5.81%, though he still held 1,621,902 shares valued at about $47.36 million after the sale. He has also made several other large sales in recent weeks.
• Extreme Networks reported solid quarterly results earlier this year, with EPS of $0.26 beating estimates and revenue rising 11.4% year over year to $316.87 million. Analysts currently rate the stock a Moderate Buy with an average target price of $25.50.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00. Following the transaction, the chief executive officer directly owned 1,621,902 shares in the company, valued at $47,359,538.40. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Monday, June 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $27.64, for a total transaction of $1,382,000.00.
• On Tuesday, May 26th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The shares were sold at an average price of $26.10, for a total transaction of $2,610,000.00.
• 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 stock was 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 stock was 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 stock was sold at an average price of $15.30, for a total transaction of $765,000.00.

Extreme Networks Stock Performance

NASDAQ EXTR traded up $1.35 during trading hours on Tuesday, reaching $29.48. 1,925,983 shares of the company were exchanged, compared to its average volume of 2,085,000. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $29.48. The business's 50 day simple moving average is $20.01 and its 200-day simple moving average is $17.30. The company has a quick ratio of 0.78, a current ratio of 0.91 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $3.86 billion, a P/E ratio of 245.67, a P/E/G ratio of 2.50 and a beta of 1.80.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Extreme Networks had a net margin of 1.30% and a return on equity of 81.88%. The business had revenue of $316.87 million during the quarter, compared to the consensus estimate of $311.48 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. On average, equities research analysts expect that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Extreme Networks during the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. lifted its position in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock valued at $33,000 after purchasing an additional 1,484 shares during the last quarter. CWM LLC lifted its position in Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company's stock valued at $53,000 after purchasing an additional 1,084 shares during the last quarter. Quarry LP lifted its position in Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Extreme Networks by 136.8% during the fourth quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock valued at $54,000 after purchasing an additional 1,861 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.

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