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 stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $14.96, for a total value of $534,446.00. Following the completion of the transaction, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,667,734.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $14.75, for a total value of $526,943.75.
• 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 value of $536,589.50.

Extreme Networks Price Performance

EXTR stock traded up $0.16 during mid-day trading on Friday, reaching $15.09. 1,441,871 shares of the company’s stock were exchanged, compared to its average volume of 1,870,505. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -15.56, a price-to-earnings-growth ratio of 3.67 and a beta of 1.76. The stock’s 50 day moving average is $14.88 and its 200 day moving average is $13.29. The company has a debt-to-equity ratio of 5.33, a current ratio of 0.91 and a quick ratio of 0.63. Extreme Networks, Inc. has a 12-month low of $10.49 and a 12-month high of $18.77.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly 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 business had revenue of $256.65 million for the quarter, compared to analysts’ expectations of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The business’s revenue for the quarter was down 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. On average, research analysts expect that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

EXTR has been the topic of a number of recent research reports. Craig Hallum upped their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities upped their target price on Extreme Networks from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $16.50 target price on shares of Extreme Networks in a research note on Thursday, August 8th. Finally, B. Riley upped their target price on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Andina Capital Management LLC lifted its position in shares of Extreme Networks by 3.8% in the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock valued at $264,000 after acquiring an additional 719 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Extreme Networks by 109.5% in the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Extreme Networks by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock valued at $880,000 after acquiring an additional 1,600 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock valued at $294,000 after acquiring an additional 1,741 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock valued at $867,000 after acquiring an additional 1,749 shares in 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.