Edward Meyercord Sells 35,725 Shares of Extreme Networks, Inc. (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,363,575.50. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $15.02, for a total transaction of $536,589.50.

Extreme Networks Stock Down 1.7 %

Shares of NASDAQ EXTR opened at $14.85 on Friday. The firm’s 50-day moving average is $14.49 and its two-hundred day moving average is $12.80. The company has a market capitalization of $1.93 billion, a PE ratio of -212.14, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $25.51. 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 (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. Extreme Networks’s quarterly revenue was down 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Equities analysts anticipate that Extreme Networks, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EXTR. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a report on Thursday, August 8th. Craig Hallum raised their price objective on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.90.

Institutional Trading of Extreme Networks

A number of large investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Extreme Networks by 265.8% in the 2nd 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 purchasing an additional 531,500 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Extreme Networks by 42.9% in the second quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock valued at $11,507,000 after buying an additional 256,765 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Extreme Networks by 61.1% during the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock valued at $9,270,000 after buying an additional 261,322 shares during the period. Clearline Capital LP boosted its position in Extreme Networks by 252.4% during the second quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock worth $8,250,000 after acquiring an additional 439,321 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its stake in Extreme Networks by 23.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 93,308 shares of the technology company’s stock worth $1,255,000 after acquiring an additional 17,510 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

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.