Insider Selling: Extreme Networks, Inc. (NASDAQ:EXTR) CEO Sells 100,000 Shares of Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 100,000 shares of the business’s stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $12.00, for a total transaction of $1,200,000.00. Following the transaction, the chief executive officer now directly owns 670,174 shares of the company’s stock, valued at $8,042,088. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • On Monday, May 3rd, Edward Meyercord sold 25,000 shares of Extreme Networks stock. The stock was sold at an average price of $11.34, for a total transaction of $283,500.00.
  • On Thursday, April 1st, Edward Meyercord sold 25,000 shares of Extreme Networks stock. The stock was sold at an average price of $8.87, for a total transaction of $221,750.00.

Shares of NASDAQ EXTR traded down $0.03 during mid-day trading on Monday, hitting $11.35. The company’s stock had a trading volume of 70,514 shares, compared to its average volume of 1,406,081. The company’s fifty day simple moving average is $9.35 and its 200-day simple moving average is $7.54. Extreme Networks, Inc. has a one year low of $2.74 and a one year high of $12.06. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -13.88 and a beta of 2.13. The company has a debt-to-equity ratio of 33.85, a current ratio of 0.93 and a quick ratio of 0.81.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, April 28th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. Extreme Networks had a negative net margin of 10.55% and a negative return on equity of 114.29%. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $244.72 million. During the same period last year, the company posted ($0.09) EPS. The business’s quarterly revenue was up 21.0% on a year-over-year basis. On average, sell-side analysts predict that Extreme Networks, Inc. will post 0.08 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC boosted its position in shares of Extreme Networks by 0.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,666,944 shares of the technology company’s stock valued at $11,485,000 after acquiring an additional 14,800 shares during the period. Kovack Advisors Inc. acquired a new position in Extreme Networks during the fourth quarter worth about $1,683,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Extreme Networks during the fourth quarter worth about $5,389,000. Regal Investment Advisors LLC acquired a new position in shares of Extreme Networks in the fourth quarter valued at approximately $107,000. Finally, Virtu Financial LLC acquired a new position in shares of Extreme Networks in the fourth quarter valued at approximately $158,000. 78.88% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on EXTR. Lake Street Capital boosted their target price on shares of Extreme Networks from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, February 24th. TheStreet upgraded shares of Extreme Networks from a “d” rating to a “c-” rating in a research note on Wednesday, February 10th. Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, March 31st. Finally, B. Riley boosted their target price on shares of Extreme Networks from $12.50 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Extreme Networks currently has an average rating of “Buy” and an average target price of $10.31.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, security, and access controls.

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Insider Buying and Selling by Quarter for Extreme Networks (NASDAQ:EXTR)

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