Key Points
- CEO Edward Meyercord sold 50,000 shares on January 2 at an average price of $16.54 for a total of $827,000, leaving him with 1,871,418 shares (a 2.60% reduction, valued at about $30.95M).
- The January sale follows a prior sale on November 28 of another 50,000 shares at $17.46, signaling repeated insider selling in recent months.
- Extreme Networks trades with a market cap of about $2.23B and a high P/E (~237.9); analysts have a consensus rating of Moderate Buy with an average target of $23.83.
Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 50,000 shares of the company's stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $16.54, for a total transaction of $827,000.00. Following the sale, the chief executive officer owned 1,871,418 shares in the company, valued at $30,953,253.72. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Edward Meyercord also recently made the following trade(s):
- On Friday, November 28th, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $17.46, for a total transaction of $873,000.00.
Extreme Networks Trading Up 0.7%
Shares of EXTR stock opened at $16.65 on Tuesday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 237.86, a PEG ratio of 1.83 and a beta of 1.64. The company's fifty day simple moving average is $17.42 and its two-hundred day simple moving average is $18.97. Extreme Networks, Inc. has a 1 year low of $10.10 and a 1 year high of $22.89. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.91 and a quick ratio of 0.75.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The firm had revenue of $310.25 million during the quarter, compared to analyst estimates of $295.72 million. During the same period last year, the company earned $0.17 earnings per share. The business's revenue for the quarter was up 15.2% on a year-over-year basis. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. As a group, analysts anticipate that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on EXTR shares. B. Riley reissued a "buy" rating on shares of Extreme Networks in a report on Thursday, October 30th. Bank of America initiated coverage on shares of Extreme Networks in a research note on Wednesday, November 19th. They issued a "buy" rating and a $24.00 target price on the stock. Oppenheimer upgraded shares of Extreme Networks from a "market perform" rating to an "outperform" rating and set a $25.00 price target for the company in a research report on Thursday, October 30th. Wall Street Zen raised shares of Extreme Networks from a "buy" rating to a "strong-buy" rating in a report on Friday, November 28th. Finally, Needham & Company LLC reissued a "buy" rating and set a $24.00 price objective on shares of Extreme Networks in a research note on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.83.
Check Out Our Latest Stock Report on EXTR
Institutional Trading of Extreme Networks
Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in Extreme Networks by 20.8% in the first quarter. Royal Bank of Canada now owns 73,610 shares of the technology company's stock worth $974,000 after acquiring an additional 12,667 shares in the last quarter. AQR Capital Management LLC lifted its stake in Extreme Networks by 6.6% during the first quarter. AQR Capital Management LLC now owns 34,375 shares of the technology company's stock worth $455,000 after purchasing an additional 2,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Extreme Networks by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,723 shares of the technology company's stock worth $1,015,000 after purchasing an additional 3,349 shares in the last quarter. Millennium Management LLC increased its position in shares of Extreme Networks by 163.0% during the 1st quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company's stock valued at $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new position in shares of Extreme Networks during the 1st quarter valued at about $158,000. Hedge funds and other institutional investors own 91.05% of the company's stock.
About Extreme Networks
(
Get Free Report)
Extreme Networks, Inc (NASDAQ: EXTR) is a global provider of end-to-end networking solutions designed to support enterprise, data center, and service provider environments. The company's product portfolio encompasses high-performance wired and wireless access switches, routers, network security appliances, and software-defined networking (SDN) tools. Driven by a cloud-native management architecture, Extreme's Intelligent Edge Platform integrates network analytics, automation and orchestration capabilities to help organizations optimize performance, reduce operational complexity and strengthen security.
Since its founding in the mid-1990s and subsequent public listing in 1999, Extreme Networks has expanded its technology footprint through targeted acquisitions.
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