Ron Vincent Sells 18,989 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 18,989 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $8.14, for a total value of $154,570.46. Following the completion of the transaction, the chief financial officer directly owned 162,087 shares in the company, valued at $1,319,388.18. The trade was a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Ron Vincent also recently made the following trade(s):

• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total value of $86,300.00.

Crexendo Trading Down 4.3%

NASDAQ:CXDO opened at $9.36 on Friday. Crexendo Inc. has a 1-year low of $5.08 and a 1-year high of $9.84. The business’s 50-day moving average price is $6.60 and its two-hundred day moving average price is $6.63. The firm has a market capitalization of $303.45 million, a price-to-earnings ratio of 62.40 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share 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 firm had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. Sell-side analysts predict that Crexendo Inc. will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CXDO shares. Lake Street Capital restated a “buy” rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Needham & Company LLC increased their price target on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Crexendo News Roundup

Here are the key news stories impacting Crexendo this week:

• Positive Sentiment: Needham & Company raised its price target on Crexendo to $12.00 and reiterated a Buy rating, reinforcing the bullish view that the shares still have room to run. Article Title
• Positive Sentiment: Crexendo’s latest quarterly results beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of $20.71 million versus $19.63 million expected, supporting the company’s growth and profitability narrative. Article Title
• Positive Sentiment: Management said it will present at upcoming investor conferences, which could increase visibility with institutional investors and give the company another platform to highlight its ESI acquisition and consecutive quarters of GAAP profitability. Article Title
• Neutral Sentiment: Several analyst and commentary pieces focused on Crexendo’s growth momentum and earnings call details, adding context but not changing the near-term catalyst picture by themselves. Article Title
• Negative Sentiment: Top executives, including the CEO, COO, CFO, and CRO, disclosed sizable stock sales over May 4-6. While insider selling does not necessarily change fundamentals, it can create short-term pressure and weigh on investor sentiment. Article Title

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Crexendo by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock worth $2,346,000 after buying an additional 52,200 shares in the last quarter. D.A. Davidson & CO. grew 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 worth $237,000 after buying an additional 1,311 shares in the last quarter. Diversify Wealth Management LLC bought a new position in shares of Crexendo during the first quarter worth about $139,000. MidFirst Bank bought a new position in shares of Crexendo during the fourth quarter worth about $1,277,000. Finally, Strive Financial Group LLC bought a new position in shares of Crexendo in the 4th quarter valued at about $31,000. 9.53% of the stock is currently owned by institutional investors.

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.