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

Extreme Networks, Inc. (NASDAQ:EXTRGet Free Report) CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.39, for a total transaction of $549,807.75. Following the sale, the chief executive officer now owns 1,478,941 shares in the company, valued at approximately $22,760,901.99. This trade represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Extreme Networks Price Performance

Shares of NASDAQ:EXTR traded up $0.16 during midday trading on Tuesday, reaching $15.38. The company’s stock had a trading volume of 1,191,686 shares, compared to its average volume of 1,016,927. The business’s fifty day simple moving average is $17.18 and its 200-day simple moving average is $15.63. 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, Inc. has a fifty-two week low of $10.49 and a fifty-two week high of $19.24. The company has a market capitalization of $2.04 billion, a P/E ratio of -16.36, a P/E/G ratio of 3.44 and a beta of 1.73.

Extreme Networks (NASDAQ:EXTRGet Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). Extreme Networks had a negative net margin of 11.98% and a negative return on equity of 110.86%. As a group, equities research analysts expect that Extreme Networks, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its stake in Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock valued at $867,000 after buying an additional 1,749 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Extreme Networks by 75.3% in the 2nd quarter. Mackenzie Financial Corp now owns 26,888 shares of the technology company’s stock worth $362,000 after purchasing an additional 11,549 shares during the period. GAMMA Investing LLC increased its holdings in Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after purchasing an additional 1,035 shares in the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Extreme Networks by 10.2% in the third quarter. Green Alpha Advisors LLC now owns 26,678 shares of the technology company’s stock valued at $401,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Extreme Networks by 32.1% during the third quarter. Creative Planning now owns 21,140 shares of the technology company’s stock worth $318,000 after buying an additional 5,133 shares during the period. Institutional investors own 91.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on EXTR

About Extreme Networks

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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.

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