Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells $526,943.75 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The shares were sold at an average price of $15.02, for a total value of $536,589.50.

Extreme Networks Stock Performance

NASDAQ:EXTR traded up $0.34 during midday trading on Wednesday, reaching $15.11. 885,925 shares of the company traded hands, compared to its average volume of 1,961,781. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -215.57, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. The company has a fifty day moving average price of $14.44 and a 200 day moving average price of $12.77. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $25.51.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The firm had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the prior year, the company posted $0.24 EPS. The firm’s revenue was down 29.5% on a year-over-year basis. On average, analysts expect that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in Extreme Networks in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after purchasing an additional 4,709 shares during the period. Hennessy Advisors Inc. bought a new position in Extreme Networks during the 4th quarter valued at $82,000. Gladius Capital Management LP acquired a new position in shares of Extreme Networks during the 2nd quarter valued at $90,000. Finally, Narus Financial Partners LLC bought a new stake in shares of Extreme Networks in the 1st quarter worth $130,000. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of research analyst reports. Craig Hallum increased their target price on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.90.

About Extreme Networks

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.