Insider Selling: Crexendo (NASDAQ:CXDO) CTO Sells $250,250.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total value of $250,250.00. Following the completion of the sale, the chief technology officer owned 604,949 shares in the company, valued at $6,055,539.49. The trade was a 3.97% 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 this hyperlink.

David Tzat-Kin Wang also recently made the following trade(s):

• On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The shares were sold at an average price of $7.00, for a total value of $143,374.00.

Crexendo Price Performance

Shares of CXDO stock opened at $7.57 on Friday. The business’s 50 day simple moving average is $7.89 and its 200 day simple moving average is $7.06. Crexendo Inc. has a one year low of $5.13 and a one year high of $11.23. The stock has a market capitalization of $245.42 million, a PE ratio of 50.47 and a beta of 1.08.

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

Hedge Funds Weigh In On Crexendo

Several institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its holdings in shares of Crexendo by 3.5% during the first 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 period. Goldman Sachs Group Inc. raised its holdings in shares of Crexendo by 2.5% during the fourth 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 period. Bank of America Corp DE raised its holdings in shares of Crexendo by 71.7% during 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. BNP Paribas Financial Markets raised its holdings in shares of Crexendo by 172.6% during the third 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 period. Finally, Independent Advisor Alliance raised its holdings in shares of Crexendo by 13.2% during the third 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 period. Institutional investors and hedge funds own 9.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CXDO. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Crexendo in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC upped their price target on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.