Extreme Networks, Inc. (NASDAQ:EXTR – Get Free Report) CEO Edward Meyercord sold 50,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $27.64, for a total value of $1,382,000.00. Following the transaction, the chief executive officer owned 1,721,902 shares in the company, valued at $47,593,371.28. This represents a 2.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Edward Meyercord also recently made the following trade(s):
- On Tuesday, June 2nd, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The stock was sold at an average price of $29.20, for a total value of $2,920,000.00.
- On Tuesday, May 26th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The stock was sold at an average price of $26.10, for a total value of $2,610,000.00.
- On Tuesday, May 5th, Edward Meyercord sold 21,209 shares of Extreme Networks stock. The stock was sold at an average price of $23.12, for a total value of $490,352.08.
- On Monday, May 4th, Edward Meyercord sold 78,791 shares of Extreme Networks stock. The stock was sold at an average price of $23.06, for a total value of $1,816,920.46.
- On Friday, May 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $22.08, for a total value of $1,104,000.00.
- On Wednesday, April 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $15.30, for a total value of $765,000.00.
Extreme Networks Price Performance
Shares of Extreme Networks stock opened at $29.48 on Wednesday. The business has a 50 day simple moving average of $20.01 and a two-hundred day simple moving average of $17.30. Extreme Networks, Inc. has a 12 month low of $13.48 and a 12 month high of $29.48. The stock has a market capitalization 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 current ratio of 0.91 and a quick ratio of 0.78.
Institutional Investors Weigh In On Extreme Networks
Several hedge funds and other institutional investors have recently made changes to their positions in EXTR. Alyeska Investment Group L.P. increased its holdings in shares of Extreme Networks by 301.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,971,718 shares of the technology company’s stock valued at $49,479,000 after purchasing an additional 2,232,373 shares during the last quarter. Jain Global LLC acquired a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $17,361,000. SEB Asset Management AB acquired a new stake in shares of Extreme Networks in the first quarter valued at approximately $12,192,000. Millennium Management LLC increased its holdings in shares of Extreme Networks by 163.0% in the first quarter. Millennium Management LLC now owns 1,260,362 shares of the technology company’s stock valued at $16,675,000 after purchasing an additional 781,103 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in shares of Extreme Networks in the first quarter valued at approximately $10,129,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
Wall Street Analysts Forecast Growth
EXTR has been the subject of a number of research analyst reports. UBS Group set a $28.00 target price on Extreme Networks in a report on Thursday, April 30th. Weiss Ratings cut Extreme Networks from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Lake Street Capital reissued a “buy” rating and set a $25.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. Needham & Company LLC increased their target price on Extreme Networks from $21.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, B. Riley Financial reissued a “buy” rating on shares of Extreme Networks in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.50.
View Our Latest Research Report on EXTR
Extreme Networks Company Profile
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.
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