Edward Meyercord Sells 50,000 Shares of Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $17.46, for a total value of $873,000.00. Following the completion of the sale, the chief executive officer directly owned 1,871,418 shares in the company, valued at approximately $32,674,958.28. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR opened at $17.29 on Wednesday. The business has a 50 day moving average price of $19.07 and a 200 day moving average price of $18.83. Extreme Networks, Inc. has a twelve month low of $10.10 and a twelve month high of $22.89. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 247.00, a PEG ratio of 1.89 and a beta of 1.67. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 2.32.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The company had revenue of $310.25 million for the quarter, compared to the consensus estimate of $295.72 million. During the same period in the previous year, the business posted $0.17 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. Research analysts predict that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Extreme Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Bank of America began coverage on Extreme Networks in a report on Wednesday, November 19th. They issued a “buy” rating and a $24.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $24.00 price objective on shares of Extreme Networks in a report on Monday, November 24th. Rosenblatt Securities restated a “buy” rating and issued a $25.00 target price on shares of Extreme Networks in a research note on Tuesday, November 11th. Finally, UBS Group raised their target price on Extreme Networks from $15.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.83.

Institutional Investors Weigh In On Extreme Networks

Several large investors have recently made changes to their positions in EXTR. Arrowstreet Capital Limited Partnership lifted its holdings in Extreme Networks by 3,302.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,460,851 shares of the technology company’s stock valued at $44,172,000 after purchasing an additional 2,388,527 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Extreme Networks during the first quarter worth approximately $14,147,000. Millennium Management LLC raised its stake in shares of Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after acquiring an additional 781,103 shares during the last quarter. Trigran Investments Inc. raised its stake in shares of Extreme Networks by 30.3% in the first quarter. Trigran Investments Inc. now owns 3,106,446 shares of the technology company’s stock valued at $41,098,000 after acquiring an additional 722,121 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Extreme Networks in the 2nd quarter worth approximately $11,265,000. Institutional investors 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.