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

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) CEO Edward Meyercord sold 35,725 shares of the 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 completion of the sale, the chief executive officer now owns 1,478,941 shares of the company's stock, valued at $22,760,901.99. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Extreme Networks Stock Down 0.6 %

Shares of EXTR traded down $0.10 during mid-day trading on Friday, hitting $15.39. 825,647 shares of the company's stock were exchanged, compared to its average volume of 1,063,454. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -16.37, a P/E/G ratio of 2.99 and a beta of 1.73. Extreme Networks, Inc. has a twelve month low of $10.49 and a twelve month high of $19.24. The firm has a fifty day moving average of $17.07 and a two-hundred day moving average of $15.66. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 3.34.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its earnings results 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%. On average, sell-side analysts forecast that Extreme Networks, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EXTR shares. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of Extreme Networks in a research report on Thursday, January 30th. Lake Street Capital increased their target price on shares of Extreme Networks from $15.00 to $16.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. StockNews.com upgraded shares of Extreme Networks from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Craig Hallum increased their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities restated a "buy" rating and issued a $22.00 target price on shares of Extreme Networks in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Extreme Networks currently has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Institutional Investors Weigh In On Extreme Networks

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Extreme Networks by 318.7% in the third quarter. Victory Capital Management Inc. now owns 4,466,031 shares of the technology company's stock worth $67,124,000 after buying an additional 3,399,288 shares during the last quarter. Portolan Capital Management LLC grew its holdings in Extreme Networks by 194.6% in the 3rd quarter. Portolan Capital Management LLC now owns 1,060,828 shares of the technology company's stock valued at $15,944,000 after buying an additional 700,724 shares during the last quarter. 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 buying an additional 589,713 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Extreme Networks in the fourth quarter worth $8,291,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Extreme Networks by 57.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 738,297 shares of the technology company's stock worth $11,097,000 after acquiring an additional 269,459 shares during the period. Institutional investors own 91.05% of the company's stock.

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.