Edward Meyercord Buys 20,000 Shares of Extreme Networks (EXTR) Stock

Extreme Networks (NASDAQ:EXTR) insider Edward Meyercord purchased 20,000 shares of Extreme Networks stock in a transaction on Monday, May 14th. The stock was purchased at an average price of $8.42 per share, for a total transaction of $168,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Extreme Networks opened at $9.11 on Friday, Marketbeat Ratings reports. Extreme Networks has a 1 year low of $8.49 and a 1 year high of $8.71. The company has a market cap of $1.01 billion, a PE ratio of 26.79, a P/E/G ratio of 1.23 and a beta of 1.62. The company has a current ratio of 1.09, a quick ratio of 0.88 and a debt-to-equity ratio of 1.36.

Extreme Networks (NASDAQ:EXTR) last announced its earnings results on Tuesday, May 8th. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). Extreme Networks had a positive return on equity of 43.61% and a negative net margin of 3.28%. The company had revenue of $262.00 million for the quarter, compared to analyst estimates of $268.32 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. Extreme Networks’s revenue for the quarter was up 75.6% on a year-over-year basis. research analysts predict that Extreme Networks will post 0.42 EPS for the current year.

Several hedge funds have recently made changes to their positions in EXTR. Riverhead Capital Management LLC acquired a new position in Extreme Networks in the first quarter valued at approximately $106,000. Suntrust Banks Inc. acquired a new position in Extreme Networks in the fourth quarter valued at approximately $128,000. Financial Gravity Companies Inc. acquired a new position in Extreme Networks in the fourth quarter valued at approximately $146,000. First Republic Investment Management Inc. acquired a new position in Extreme Networks in the first quarter valued at approximately $148,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Extreme Networks in the fourth quarter valued at approximately $153,000. Institutional investors own 78.65% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Extreme Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered shares of Extreme Networks from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Finally, BidaskClub upgraded shares of Extreme Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Extreme Networks has a consensus rating of “Buy” and a consensus target price of $16.08.

About Extreme Networks

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. 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.

Insider Buying and Selling by Quarter for Extreme Networks (NASDAQ:EXTR)

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