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

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 35,725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.75, for a total transaction of $526,943.75. Following the completion of the sale, the chief executive officer now directly owns 1,448,378 shares of the company’s stock, valued at approximately $21,363,575.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Edward Meyercord also recently made the following trade(s):

• On Tuesday, September 3rd, Edward Meyercord sold 35,725 shares of Extreme Networks stock. The stock was sold at an average price of $15.02, for a total value of $536,589.50.

Extreme Networks Stock Performance

EXTR stock opened at $15.11 on Thursday. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $25.51. The company has a quick ratio of 0.63, a current ratio of 0.90 and a debt-to-equity ratio of 7.05. The company has a market cap of $1.96 billion, a P/E ratio of -215.86, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. The business’s fifty day moving average is $14.47 and its 200-day moving average is $12.79.

Extreme Networks (NASDAQ:EXTR) last issued its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The company had revenue of $256.65 million for the quarter, compared to the consensus estimate of $253.21 million. Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. Extreme Networks’s quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Equities research analysts forecast that Extreme Networks, Inc. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Extreme Networks by 265.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 731,500 shares of the technology company’s stock worth $9,839,000 after purchasing an additional 531,500 shares in the last quarter. Clearbridge Investments LLC raised its stake in Extreme Networks by 42.9% during the 2nd quarter. Clearbridge Investments LLC now owns 855,541 shares of the technology company’s stock worth $11,507,000 after buying an additional 256,765 shares during the period. Point72 Asset Management L.P. lifted its holdings in Extreme Networks by 61.1% during the second quarter. Point72 Asset Management L.P. now owns 689,222 shares of the technology company’s stock worth $9,270,000 after acquiring an additional 261,322 shares in the last quarter. Clearline Capital LP grew its stake in Extreme Networks by 252.4% in the second quarter. Clearline Capital LP now owns 613,360 shares of the technology company’s stock valued at $8,250,000 after acquiring an additional 439,321 shares during the period. Finally, SkyView Investment Advisors LLC increased its holdings in shares of Extreme Networks by 23.1% in the second quarter. SkyView Investment Advisors LLC now owns 93,308 shares of the technology company’s stock worth $1,255,000 after acquiring an additional 17,510 shares in the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Craig Hallum boosted their target price on Extreme Networks from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.90.

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.