Key Points
- CEO Edward Meyercord sold 50,000 Extreme Networks shares at an average price of $21.77, generating $1.09 million in proceeds. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 2.84% to 1,710,097 shares.
- Extreme Networks reported quarterly revenue of $338.55 million and adjusted earnings of $0.32 per share, beating analyst expectations, while revenue increased 10.3% year over year.
- Institutional investors own 91.05% of the company, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $32.25.
Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 50,000 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $21.77, for a total value of $1,088,500.00. Following the completion of the sale, the chief executive officer owned 1,710,097 shares of the company's stock, valued at approximately $37,228,811.69. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edward Meyercord also recently made the following trade(s):
- On Monday, August 3rd, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The stock was sold at an average price of $29.79, for a total value of $1,489,500.00.
Extreme Networks Price Performance
Extreme Networks stock opened at $23.12 on Friday. Extreme Networks, Inc. has a 12-month low of $13.48 and a 12-month high of $33.73. The stock has a market cap of $3.06 billion, a P/E ratio of 74.58, a PEG ratio of 1.45 and a beta of 1.76. The company has a 50-day moving average price of $23.66 and a 200 day moving average price of $24.08. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.63.
Extreme Networks (NASDAQ:EXTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $338.55 million for the quarter, compared to the consensus estimate of $332.49 million. Extreme Networks had a net margin of 3.28% and a return on equity of 88.88%. Extreme Networks's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Extreme Networks has set its FY 2027 guidance at 1.280-1.330 EPS and its Q1 2027 guidance at 0.270-0.290 EPS. Sell-side analysts anticipate that Extreme Networks, Inc. will post 0.75 earnings per share for the current year.
Institutional Investors Weigh In On Extreme Networks
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Extreme Networks during the 2nd quarter worth approximately $674,661,000. Paradigm Capital Management Inc. NY acquired a new stake in Extreme Networks in the 2nd quarter valued at approximately $137,291,000. Bank of America Corp DE purchased a new stake in Extreme Networks in the second quarter valued at approximately $45,531,000. SEB Asset Management AB purchased a new stake in Extreme Networks in the first quarter valued at approximately $12,192,000. Finally, Bank of New York Mellon Corp acquired a new position in Extreme Networks during the second quarter worth $23,896,000. 91.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on EXTR shares. Weiss Ratings upgraded Extreme Networks from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, August 31st. Rosenblatt Securities cut their target price on Extreme Networks from $39.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Needham & Company LLC reduced their target price on Extreme Networks from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. B. Riley Financial upped their price target on Extreme Networks from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Bank of America increased their price target on Extreme Networks from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and an average price target of $32.25.
View Our Latest Report on EXTR
Extreme Networks Company Profile
(
Get Free Report)
Extreme Networks, Inc (NASDAQ: EXTR) develops enterprise networking solutions that help organizations connect, manage and secure users, devices and applications. Its portfolio includes wired and wireless network infrastructure, cloud-managed networking, network management software, analytics, security capabilities and software-defined wide-area networking solutions.
The company serves a broad range of customers, including businesses, schools and universities, healthcare organizations, government agencies, retailers, manufacturers and hospitality providers.
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