Edward Meyercord Sells 50,000 Shares of Extreme Networks (NASDAQ:EXTR) Stock

Extreme Networks, Inc. (NASDAQ:EXTR) CEO Edward Meyercord sold 50,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $29.79, for a total value of $1,489,500.00. Following the completion of the sale, the chief executive officer owned 1,596,475 shares of the company’s stock, valued at $47,558,990.25. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $2,920,000.00.
• On Monday, June 1st, Edward Meyercord sold 50,000 shares of Extreme Networks stock. The shares were sold at an average price of $27.64, for a total value of $1,382,000.00.
• On Tuesday, May 26th, Edward Meyercord sold 100,000 shares of Extreme Networks stock. The shares were sold at an average price of $26.10, for a total value of $2,610,000.00.

Extreme Networks Stock Down 19.0%

EXTR stock opened at $26.19 on Thursday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.91 and a quick ratio of 0.78. The stock has a market capitalization of $3.43 billion, a P/E ratio of 218.25, a P/E/G ratio of 1.99 and a beta of 1.79. The business has a 50-day moving average of $30.36 and a 200-day moving average of $21.80. Extreme Networks, Inc. has a fifty-two week low of $13.48 and a fifty-two week high of $33.73.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Wednesday, August 5th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $338.55 million for the quarter, compared to analyst estimates of $332.49 million. Extreme Networks had a return on equity of 81.88% and a net margin of 1.30%.Extreme Networks’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. 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. On average, sell-side analysts anticipate that Extreme Networks, Inc. will post 0.53 earnings per share for the current fiscal year.

Key Headlines Impacting Extreme Networks

Here are the key news stories impacting Extreme Networks this week:

• Positive Sentiment: Extreme Networks reported fourth-quarter adjusted earnings of $0.32 per share, exceeding the $0.29 consensus estimate and rising from $0.25 a year earlier. Revenue of $338.55 million also surpassed expectations of $332.49 million and increased 10.3% year over year. Extreme Networks Q4 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management’s first-quarter fiscal 2027 outlook was stronger than consensus, calling for earnings of $0.27-$0.29 per share versus $0.26 expected and revenue of $334 million-$339 million versus $332.3 million. Full-year EPS guidance of $1.28-$1.33 also exceeded the $1.21 analyst consensus.
• Positive Sentiment: Needham lowered its price target to $35 from $38 but maintained a “buy” rating, implying substantial potential upside from the recent trading level. The broader analyst consensus remains “Moderate Buy,” with an average target of $32.83. Benzinga
• Neutral Sentiment: CEO Edward Meyercord sold 50,000 shares for approximately $1.49 million, reducing his direct ownership by 3.04%. The transaction was executed under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a current bearish signal. Extreme Networks CEO Insider Sale
• Negative Sentiment: The stock’s reaction suggests investors may have expected an even stronger outlook or are locking in gains after a sharp run-up. Extreme Networks also trades at a high earnings multiple, leaving the shares vulnerable to disappointment despite the quarterly beat.
• Negative Sentiment: Needham’s target reduction from $38 to $35 introduces a more cautious valuation signal, even though the firm retained its buy rating.

Analysts Set New Price Targets

Several brokerages recently commented on EXTR. UBS Group set a $28.00 target price on shares of Extreme Networks in a report on Thursday, April 30th. Bank of America lifted their price target on shares of Extreme Networks from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings raised shares of Extreme Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Needham & Company LLC reduced their price objective on shares of Extreme Networks from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wall Street Zen cut Extreme Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Institutional Trading of Extreme Networks

A number of large investors have recently added to or reduced their stakes in EXTR. Caitong International Asset Management Co. Ltd acquired a new position in shares of Extreme Networks during the 3rd quarter worth about $31,000. Rockefeller Capital Management L.P. grew its holdings in Extreme Networks by 313.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,957 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,484 shares during the period. CWM LLC increased its position in Extreme Networks by 51.7% during the fourth quarter. CWM LLC now owns 3,179 shares of the technology company’s stock worth $53,000 after buying an additional 1,084 shares during the last quarter. Quarry LP raised its stake in Extreme Networks by 74.9% in the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after buying an additional 1,118 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Extreme Networks by 136.8% during the 4th quarter. Advisors Asset Management Inc. now owns 3,221 shares of the technology company’s stock worth $54,000 after acquiring an additional 1,861 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

About Extreme Networks

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.