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 dated Monday, February 3rd. The stock was 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 in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Extreme Networks Trading Down 1.9 %

NASDAQ EXTR opened at $15.49 on Friday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -16.48, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. Extreme Networks, Inc. has a 12 month low of $10.49 and a 12 month high of $19.24. The company’s fifty day moving average price is $17.11 and its two-hundred day moving average price is $15.65.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.11 EPS for the quarter, missing the consensus estimate 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%. As a group, research analysts predict that Extreme Networks, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EXTR. Victory Capital Management Inc. raised its position in shares of Extreme Networks by 318.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after acquiring an additional 3,399,288 shares in the last quarter. Portolan Capital Management LLC increased its stake in Extreme Networks by 194.6% during the third quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after purchasing an additional 700,724 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Extreme Networks by 1,639.7% during the fourth quarter. New York State Common Retirement Fund now owns 625,678 shares of the technology company’s stock worth $10,474,000 after purchasing an additional 589,713 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Extreme Networks during the fourth quarter worth $8,291,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Extreme Networks by 57.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after buying an additional 269,459 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

EXTR has been the subject of a number of analyst reports. Craig Hallum upped their price target on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley upped their target price on shares of Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities lifted their price target on shares of Extreme Networks from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Extreme Networks in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.