Crexendo (NASDAQ:CXDO) Director Anil Puri Sells 3,400 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) Director Anil Puri sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $9.44, for a total value of $32,096.00. Following the transaction, the director directly owned 53,114 shares of the company’s stock, valued at approximately $501,396.16. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Crexendo Price Performance

Shares of CXDO stock opened at $9.61 on Thursday. The company has a market cap of $311.56 million, a price-to-earnings ratio of 64.07 and a beta of 0.93. The stock has a 50 day simple moving average of $7.16 and a 200-day simple moving average of $6.84. Crexendo Inc. has a 1-year low of $5.08 and a 1-year high of $9.90.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. Analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in Crexendo by 3.5% in the 1st quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after purchasing an additional 1,311 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Crexendo by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock valued at $610,000 after purchasing an additional 2,260 shares during the last quarter. Bank of America Corp DE raised its stake in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after purchasing an additional 2,782 shares during the last quarter. Finally, Independent Advisor Alliance raised its stake in Crexendo by 13.2% in the 3rd quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock valued at $161,000 after purchasing an additional 2,890 shares during the last quarter. 9.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CXDO. Needham & Company LLC upped their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Lake Street Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

About Crexendo

Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.

Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.