Jon Brinton Sells 20,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.69, for a total value of $213,800.00. Following the sale, the executive directly owned 69,795 shares in the company, valued at $746,108.55. The trade was a 22.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Friday, May 29th, Jon Brinton sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.99, for a total value of $99,900.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The stock was sold at an average price of $9.85, for a total value of $49,250.00.
• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total value of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total value of $1,049,226.30.

Crexendo Price Performance

Shares of NASDAQ:CXDO opened at $9.18 on Thursday. Crexendo Inc. has a 1 year low of $5.13 and a 1 year high of $11.23. The business has a 50 day simple moving average of $7.81 and a two-hundred day simple moving average of $7.04. The firm has a market capitalization of $297.62 million, a PE ratio of 61.20 and a beta of 1.08.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC boosted their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and set a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Institutional Trading of Crexendo

A number of large investors have recently modified their holdings of CXDO. Bank of America Corp DE boosted its holdings in shares of Crexendo by 71.7% in the fourth 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 period. NewEdge Advisors LLC boosted its holdings in shares of Crexendo by 28.1% in the first quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after purchasing an additional 16,267 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Crexendo in the first quarter valued at approximately $431,000. Geode Capital Management LLC boosted its holdings in shares of Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after purchasing an additional 173,530 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Company Profile

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.