Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord Sells 35,725 Shares

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.39, for a total value of $549,807.75. Following the transaction, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Extreme Networks Stock Up 1.1 %

Shares of EXTR stock opened at $15.38 on Wednesday. The stock’s fifty day moving average price is $17.12 and its 200 day moving average price is $15.65. Extreme Networks, Inc. has a 1-year low of $10.49 and a 1-year high of $19.24. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -16.36, a price-to-earnings-growth ratio of 3.44 and a beta of 1.73. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.93 and a quick ratio of 0.68.

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

Institutional Investors Weigh In On Extreme Networks

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Craig Hallum raised their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the company a “buy” rating in a research report on Thursday, October 31st. B. Riley boosted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities increased their target price on Extreme Networks from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Lake Street Capital lifted their price target on Extreme Networks from $15.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com upgraded Extreme Networks from a “hold” rating to a “buy” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Extreme Networks presently has a consensus rating of “Moderate Buy” and an average target price of $20.30.

About Extreme Networks

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.