Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells $534,446.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, October 1st, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75.
• On Tuesday, September 3rd, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50.

Extreme Networks Stock Performance

Shares of NASDAQ EXTR opened at $15.09 on Friday. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77. The stock’s fifty day simple moving average is $14.88 and its two-hundred day simple moving average is $13.34. The company has a quick ratio of 0.63, a current ratio of 0.91 and a debt-to-equity ratio of 5.33.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 12.11% and a negative return on equity of 80.55%. The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. During the same period in the previous year, the business earned $0.24 EPS. Extreme Networks’s revenue for the quarter was down 29.5% compared to the same quarter last year. Equities analysts expect that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on EXTR shares. StockNews.com upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research note on Thursday, August 8th. B. Riley lifted their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum upped their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities raised their price target on Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Extreme Networks currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EXTR. Vanguard Group Inc. boosted its stake in Extreme Networks by 16.9% in the first quarter. Vanguard Group Inc. now owns 15,181,169 shares of the technology company’s stock valued at $175,191,000 after acquiring an additional 2,191,181 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Extreme Networks in the 2nd quarter worth $25,409,000. Rubric Capital Management LP boosted its position in shares of Extreme Networks by 52.3% in the 2nd quarter. Rubric Capital Management LP now owns 5,254,744 shares of the technology company’s stock worth $70,676,000 after purchasing an additional 1,804,744 shares in the last quarter. Victory Capital Management Inc. grew its stake in Extreme Networks by 373.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,066,743 shares of the technology company’s stock worth $14,348,000 after buying an additional 841,395 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Extreme Networks by 265.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock valued at $9,839,000 after buying an additional 531,500 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

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.