Key Points
- Extreme Networks CEO Edward Meyercord sold 50,000 shares on June 1 at an average price of $27.64, for total proceeds of $1.382 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Meyercord has recently sold multiple blocks of stock, including 100,000 shares on both June 2 and May 26, along with several other sales in May and April. After the June 1 transaction, he still owned 1.72 million shares valued at about $47.6 million.
- The company has reported solid recent results, beating earnings and revenue estimates in its latest quarter, while analysts currently rate the stock a Moderate Buy with an average price target of $25.50. Extreme Networks’ shares were trading near a 52-week high of $29.48.
Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) insider Katayoun Motiey sold 7,500 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $28.00, for a total value of $210,000.00. Following the completion of the transaction, the insider owned 165,834 shares in the company, valued at approximately $4,643,352. The trade was a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Katayoun Motiey also recently made the following trade(s):
- On Tuesday, May 26th, Katayoun Motiey sold 15,000 shares of Extreme Networks stock. The shares were sold at an average price of $26.50, for a total value of $397,500.00.
- On Thursday, May 14th, Katayoun Motiey sold 7,661 shares of Extreme Networks stock. The shares were sold at an average price of $25.00, for a total value of $191,525.00.
Extreme Networks Trading Up 4.8%
EXTR opened at $29.48 on Wednesday. Extreme Networks, Inc. has a one year low of $13.48 and a one year high of $29.48. The company has a market cap of $3.86 billion, a P/E ratio of 245.67, a PEG ratio of 2.66 and a beta of 1.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.78 and a current ratio of 0.91. The business's 50-day simple moving average is $20.01 and its 200-day simple moving average is $17.30.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $316.87 million for the quarter, compared to the consensus estimate of $311.48 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.21 EPS. Extreme Networks has set its Q4 2026 guidance at 0.280-0.300 EPS. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.53 EPS for the current fiscal year.
Institutional Trading of Extreme Networks
Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Extreme Networks during the 3rd quarter worth approximately $31,000. Rockefeller Capital Management L.P. lifted its position in Extreme Networks by 313.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company's stock worth $33,000 after acquiring an additional 1,484 shares during the period. CWM LLC lifted its position in Extreme Networks by 51.7% during the 4th quarter. CWM LLC now owns 3,179 shares of the technology company's stock worth $53,000 after acquiring an additional 1,084 shares during the period. Quarry LP lifted its position in Extreme Networks by 74.9% during the 3rd quarter. Quarry LP now owns 2,610 shares of the technology company's stock worth $54,000 after acquiring an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company's stock worth $54,000 after acquiring an additional 1,861 shares during the period. 91.05% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
EXTR has been the topic of a number of research reports. Weiss Ratings downgraded Extreme Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 15th. Lake Street Capital restated a "buy" rating and set a $25.00 price target on shares of Extreme Networks in a research note on Thursday, April 30th. B. Riley Financial restated a "buy" rating on shares of Extreme Networks in a research note on Thursday, April 30th. UBS Group set a $28.00 price target on Extreme Networks in a research note on Thursday, April 30th. Finally, Wall Street Zen upgraded Extreme Networks from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 24th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.50.
Get Our Latest Stock Analysis on Extreme Networks
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
