Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord Sells 25,000 Shares


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Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $11.34, for a total value of $283,500.00. Following the sale, the chief executive officer now directly owns 670,174 shares in the company, valued at $7,599,773.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Thursday, April 29th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The stock was sold at an average price of $12.00, for a total value of $1,200,000.00.
  • On Thursday, April 1st, Edward Meyercord sold 25,000 shares of Extreme Networks stock. The stock was sold at an average price of $8.87, for a total value of $221,750.00.

Shares of EXTR opened at $11.34 on Tuesday. The stock has a 50-day moving average of $9.48 and a two-hundred day moving average of $7.64. Extreme Networks, Inc. has a one year low of $2.74 and a one year high of $12.06. The company has a debt-to-equity ratio of 33.85, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market cap of $1.40 billion, a P/E ratio of -13.83 and a beta of 2.13.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, April 28th. The technology company reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.03. The company had revenue of $253.40 million during the quarter, compared to analysts’ expectations of $244.72 million. Extreme Networks had a negative return on equity of 114.29% and a negative net margin of 10.55%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. Analysts predict that Extreme Networks, Inc. will post 0.08 EPS for the current fiscal year.

EXTR has been the topic of several analyst reports. B. Riley boosted their price objective on Extreme Networks from $12.50 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday. Lake Street Capital upped their target price on Extreme Networks from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. Finally, TheStreet raised Extreme Networks from a “d” rating to a “c-” rating in a research note on Wednesday, February 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $11.25.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Extreme Networks by 2.2% during the 4th quarter. BlackRock Inc. now owns 17,612,593 shares of the technology company’s stock valued at $121,351,000 after buying an additional 382,845 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Extreme Networks by 0.3% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 7,295,900 shares of the technology company’s stock valued at $50,268,000 after buying an additional 20,000 shares during the last quarter. FMR LLC raised its stake in shares of Extreme Networks by 7.6% during the 1st quarter. FMR LLC now owns 3,623,714 shares of the technology company’s stock valued at $27,142,000 after buying an additional 255,096 shares during the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Extreme Networks by 3.7% during the 4th quarter. Kennedy Capital Management Inc. now owns 2,378,642 shares of the technology company’s stock valued at $16,389,000 after buying an additional 85,524 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Extreme Networks by 71.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,706,942 shares of the technology company’s stock valued at $11,762,000 after buying an additional 709,036 shares during the last quarter. Institutional investors and hedge funds own 78.88% of the company’s stock.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.

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