Extreme Networks (NASDAQ:EXTR) CEO Edward Meyercord Sells 50,000 Shares

Key Points

• Extreme Networks CEO Edward Meyercord sold 50,000 shares on June 1 at an average price of $27.64, totaling about $1.38 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Meyercord has been actively selling shares recently, including two 100,000-share sales in early June and multiple other sales in May and April. After the latest transaction, he still owned 1.72 million shares valued at roughly $47.6 million.
• Extreme Networks stock was trading near its 52-week high at $29.48 and has risen sharply from its lows. The company also posted better-than-expected quarterly results, with revenue up 11.4% year over year and earnings beating estimates.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 50,000 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $27.64, for a total transaction of $1,382,000.00. Following the completion of the sale, the chief executive officer owned 1,721,902 shares in the company, valued at $47,593,371.28. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 2nd, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The shares were sold at an average price of $29.20, for a total transaction of $2,920,000.00.
• 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 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 Price Performance

Shares of Extreme Networks stock traded up $1.35 during trading on Tuesday, hitting $29.48. 1,925,983 shares of the company's stock traded hands, compared to its average volume of 2,085,000. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The firm's fifty day moving average price is $20.01 and its 200 day moving average price is $17.30. Extreme Networks, Inc. has a twelve month low of $13.48 and a twelve month high of $29.48. The company has a market cap of $3.86 billion, a PE ratio of 245.67, a PEG ratio of 2.50 and a beta of 1.80.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $311.48 million. During the same period in the previous year, the business earned $0.21 EPS. The firm's revenue was up 11.4% on a year-over-year basis. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. Analysts forecast that Extreme Networks, Inc. will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Extreme Networks

Several institutional investors have recently added to or reduced their stakes in EXTR. Royal Bank of Canada lifted its holdings in Extreme Networks by 20.8% during the 1st quarter. Royal Bank of Canada now owns 73,610 shares of the technology company's stock valued at $974,000 after purchasing an additional 12,667 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Extreme Networks by 6.6% during the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company's stock worth $455,000 after purchasing an additional 2,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Extreme Networks by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company's stock worth $1,015,000 after purchasing an additional 3,349 shares in the last quarter. Millennium Management LLC lifted its position in shares of Extreme Networks by 163.0% during the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company's stock worth $16,675,000 after purchasing an additional 781,103 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Extreme Networks by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 319,434 shares of the technology company's stock worth $4,226,000 after purchasing an additional 22,209 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EXTR. B. Riley Financial reiterated a "buy" rating on shares of Extreme Networks in a research report on Thursday, April 30th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 24th. Lake Street Capital reissued a "buy" rating and set a $25.00 price target on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC lifted their price target on shares of Extreme Networks from $21.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded shares of Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, May 15th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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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