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 that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total value of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,363,575.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 Up 0.6 %

EXTR opened at $14.94 on Friday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -213.43, a PEG ratio of 3.46 and a beta of 1.76. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.63 and a current ratio of 0.90. The firm’s 50-day simple moving average is $14.51 and its 200-day simple moving average is $12.83. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $25.51.

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 the consensus estimate of $0.13 by ($0.21). The firm had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. Extreme Networks’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Equities research analysts anticipate that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EXTR shares. Craig Hallum raised their price objective on shares of 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 target on shares of Extreme Networks in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.90.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in shares of Extreme Networks by 145.2% in the fourth quarter. US Bancorp DE now owns 35,360 shares of the technology company’s stock valued at $624,000 after buying an additional 20,942 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Extreme Networks in the 4th quarter valued at about $222,000. Eagle Asset Management Inc. raised its stake in shares of Extreme Networks by 8.6% in the fourth quarter. Eagle Asset Management Inc. now owns 216,451 shares of the technology company’s stock worth $3,818,000 after acquiring an additional 17,159 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Extreme Networks during the fourth quarter worth approximately $1,372,000. Finally, Seven Eight Capital LP grew its stake in shares of Extreme Networks by 724.8% during the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock valued at $3,420,000 after purchasing an additional 170,395 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.

Extreme Networks Company Profile

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.