Insider Selling: Extreme Networks (NASDAQ:EXTR) CEO Sells $1,088,500.00 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the completion of the sale, the chief executive officer directly owned 1,710,097 shares in the company, valued at approximately $37,228,811.69. The trade was a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $29.79, for a total transaction of $1,489,500.00.

Extreme Networks Price Performance

NASDAQ EXTR opened at $23.12 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average is $23.66 and its two-hundred day moving average is $24.14. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 74.58, a PEG ratio of 1.52 and a beta of 1.76. Extreme Networks, Inc. has a 1-year low of $13.48 and a 1-year high of $33.73.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million during the quarter, compared to analysts’ expectations of $332.49 million. Extreme Networks had a return on equity of 88.88% and a net margin of 3.28%.Extreme Networks’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. Equities analysts forecast that Extreme Networks, Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EXTR has been the topic of several recent analyst reports. Lake Street Capital boosted their target price on shares of Extreme Networks from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Craig Hallum reiterated a “buy” rating and set a $31.00 target price on shares of Extreme Networks in a research report on Thursday, August 6th. Rosenblatt Securities cut their price target on shares of Extreme Networks from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Oppenheimer restated an “outperform” rating on shares of Extreme Networks in a research report on Thursday, August 6th. Finally, Bank of America upped their price objective on shares of Extreme Networks from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Institutional Trading of Extreme Networks

Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Extreme Networks in the second quarter valued at about $674,661,000. Paradigm Capital Management Inc. NY acquired a new position in Extreme Networks during the 2nd quarter worth about $137,291,000. Bank of America Corp DE bought a new stake in Extreme Networks during the 2nd quarter worth about $45,531,000. SEB Asset Management AB acquired a new stake in Extreme Networks in the 1st quarter valued at about $12,192,000. Finally, Bank of New York Mellon Corp acquired a new stake in Extreme Networks in the 2nd quarter valued at about $23,896,000. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc (NASDAQ: EXTR) develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.

The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.