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

Key Points

• CEO Edward Meyercord sold 50,000 Extreme Networks shares at an average price of $21.77, generating $1.09 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 1.71 million shares.
• Extreme Networks recently beat quarterly expectations, reporting adjusted EPS of $0.32 versus the $0.29 consensus and revenue of $338.55 million, up 10.3% year over year.
• Analysts maintain a “Moderate Buy” consensus, with seven Buy ratings, two Holds and an average price target of $32.25 versus the stock’s reported price of $23.12.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 50,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the sale, the chief executive officer owned 1,710,097 shares of the company's stock, valued at $37,228,811.69. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Monday, August 3rd, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $29.79, for a total value of $1,489,500.00.

Extreme Networks Stock Performance

EXTR traded up $1.15 on Friday, hitting $23.12. 1,953,303 shares of the company traded hands, compared to its average volume of 1,959,033. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The company has a 50 day moving average of $23.78 and a 200-day moving average of $24.08. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $3.06 billion, a PE ratio of 74.58, a PEG ratio of 1.41 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.The company's revenue was up 10.3% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. Sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Rosenblatt Securities cut their price target on shares of Extreme Networks from $39.00 to $38.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Craig Hallum reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Extreme Networks in a report on Thursday, August 6th. B. Riley Financial lifted their price objective on Extreme Networks from $28.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Needham & Company LLC dropped their target price on Extreme Networks from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.25.

Hedge Funds Weigh In On Extreme Networks

Large investors have recently made changes to their positions in the stock. Bienville Capital Management LLC purchased a new stake in Extreme Networks during the second quarter worth about $263,000. WINTON GROUP Ltd grew its position in Extreme Networks by 326.4% during the second quarter. WINTON GROUP Ltd now owns 43,464 shares of the technology company's stock worth $1,407,000 after buying an additional 33,270 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Extreme Networks in the second quarter valued at about $25,000. Nykredit A S acquired a new stake in shares of Extreme Networks during the 2nd quarter valued at approximately $48,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Extreme Networks by 2,426.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,385 shares of the technology company's stock worth $110,000 after acquiring an additional 3,251 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company's stock.

About Extreme Networks

Extreme Networks, Inc NASDAQ: EXTR develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.

The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.

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