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 transaction of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at $22,760,901.99. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Extreme Networks Stock Performance

EXTR opened at $15.79 on Thursday. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market capitalization of $2.10 billion, a PE ratio of -16.80, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The business has a fifty day simple moving average of $17.11 and a 200 day simple moving average of $15.65. Extreme Networks, Inc. has a 1 year low of $10.49 and a 1 year high of $19.24.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company’s stock valued at $67,124,000 after buying an additional 3,399,288 shares during the period. Portolan Capital Management LLC lifted its position in shares of Extreme Networks by 194.6% during the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company’s stock valued at $15,944,000 after acquiring an additional 700,724 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Extreme Networks by 1,639.7% during the 4th 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Extreme Networks by 57.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company’s stock worth $11,097,000 after purchasing an additional 269,459 shares during the period. Finally, Barclays PLC raised its stake in Extreme Networks by 369.8% in the third quarter. Barclays PLC now owns 217,875 shares of the technology company’s stock valued at $3,274,000 after purchasing an additional 171,500 shares in the last quarter. 91.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EXTR. B. Riley boosted their price target on Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum boosted their target price on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised Extreme Networks from a “hold” rating to a “buy” rating in a report on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Extreme Networks in a report on Thursday, January 30th. Finally, Rosenblatt Securities increased their price objective on shares of Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research report 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.