Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells $549,807.75 in Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares of the company’s stock, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Extreme Networks Trading Up 1.1 %

Shares of EXTR stock opened at $15.38 on Wednesday. Extreme Networks, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The firm has a market capitalization of $2.04 billion, a P/E ratio of -16.36, a PEG ratio of 3.44 and a beta of 1.73. The stock’s fifty day moving average is $17.12 and its two-hundred day moving average is $15.65. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.68 and a current ratio of 0.93.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Extreme Networks had a negative return on equity of 110.86% and a negative net margin of 11.98%. Research analysts expect that Extreme Networks, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Extreme Networks during the 3rd quarter worth about $26,000. Byrne Asset Management LLC acquired a new stake in shares of Extreme Networks during the fourth quarter valued at about $30,000. GAMMA Investing LLC raised its stake in shares of Extreme Networks by 109.5% in the 3rd 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 during the period. Pacer Advisors Inc. lifted its holdings in shares of Extreme Networks by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 3,104 shares of the technology company’s stock worth $52,000 after acquiring an additional 741 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Extreme Networks by 146.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,942 shares of the technology company’s stock worth $83,000 after purchasing an additional 2,935 shares during the period. 91.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on EXTR shares. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Rosenblatt Securities raised their price objective on Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, January 30th. B. Riley increased their target price on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum upped their price objective on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Lake Street Capital lifted their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

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.