Edward Meyercord, Extreme Networks CEO, sells $1.09m in shares

On October 1, 2026, Edward Meyercord, CEO of Extreme Networks, sold 50,000 shares of the company's stock, netting a total of $1,088,585. The sale occurred within a range of $21.27 to $22.02 per share, as the stock experienced a 10% decline over the past week. According to InvestingPro analysis, the company is still considered undervalued. Meyercord, who also serves as a director, established the trade on a pre-arranged 10b5-1 plan. As of the sale, he still holds 1,710,097 shares of Extreme Networks common stock.

Extreme Networks recently reported strong fiscal fourth-quarter earnings, surpassing analyst expectations. The company's adjusted earnings per share were $0.32, compared to the expected $0.29, and revenue was $338.6 million, exceeding the forecasted $332.5 million. For the full fiscal year, revenue increased by 13% to $1.28 billion, and adjusted earnings per share rose by 26% to $1.06. The company's gross margin also improved to 62.7%, driven by pricing actions and supply-chain management.

Despite positive results, the stock saw a decrease in premarket trading due to weaker growth outlook concerns for the upcoming year. UBS recently reiterated a Neutral rating on Extreme Networks, with a price target of $28.00, following meetings with the company's Chief Financial Officer. The company's strong performance is evident with nine consecutive quarters of sequential product revenue growth.