Insider Selling: Extreme Networks (NASDAQ:EXTR) CEO Sells 50,000 Shares of Stock

Key Points

• CEO Edward Meyercord sold 50,000 shares on May 1 at an average price of $22.08 for $1.104M under a pre-arranged Rule 10b5-1 plan, reducing his stake by 2.57% to about 1,897,270 shares.
• Extreme Networks recently beat quarterly expectations with $0.26 EPS (vs. $0.24 est.) and $316.87M revenue (up 11.4% YoY), and analysts maintain a Moderate Buy consensus with an average price target of $25.50.

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 50,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $22.08, for a total transaction of $1,104,000.00. Following the sale, the chief executive officer owned 1,897,270 shares in the company, valued at $41,891,721.60. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 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 Price Performance

Shares of NASDAQ EXTR traded up $0.55 during trading on Monday, hitting $22.84. 3,339,135 shares of the company were exchanged, compared to its average volume of 3,112,034. Extreme Networks, Inc. has a 1 year low of $13.48 and a 1 year high of $23.20. 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 $15.84 and its 200 day moving average price is $16.54. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 190.33, a PEG ratio of 2.35 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, topping 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 firm earned $0.21 EPS. The business's revenue for the quarter 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, sell-side analysts expect that Extreme Networks, Inc. will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EXTR. CWM LLC increased its stake in shares of Extreme Networks by 44.8% during the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company's stock valued at $43,000 after acquiring an additional 648 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Extreme Networks by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 22,783 shares of the technology company's stock valued at $470,000 after acquiring an additional 683 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Extreme Networks by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 39,405 shares of the technology company's stock valued at $814,000 after acquiring an additional 685 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Extreme Networks by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 25,609 shares of the technology company's stock valued at $426,000 after acquiring an additional 735 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Extreme Networks by 3.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,633 shares of the technology company's stock valued at $510,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on EXTR. B. Riley Financial reiterated a "buy" rating on shares of Extreme Networks in a research report on Thursday. UBS Group set a $28.00 price objective on shares of Extreme Networks in a research report on Thursday. Lake Street Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday. Needham & Company LLC boosted their price objective on shares of Extreme Networks from $21.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $25.00 price objective on shares of Extreme Networks in a research report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.50.

About Extreme Networks

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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