Crexendo (NASDAQ:CXDO) CFO Ron Vincent Sells 29,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 29,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.77, for a total transaction of $283,330.00. Following the sale, the chief financial officer directly owned 117,087 shares of the company’s stock, valued at approximately $1,143,939.99. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The shares were sold at an average price of $9.84, for a total transaction of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The stock was sold at an average price of $9.75, for a total transaction of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total transaction of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total transaction of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total transaction of $154,570.46.

Crexendo Price Performance

Shares of CXDO opened at $9.78 on Thursday. Crexendo Inc. has a one year low of $5.08 and a one year high of $10.04. The company has a 50-day moving average of $7.47 and a two-hundred day moving average of $6.94. The stock has a market cap of $317.07 million, a price-to-earnings ratio of 65.20 and a beta of 0.93.

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

Institutional Trading of Crexendo

Several institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted 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 purchasing an additional 1,311 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $610,000 after purchasing an additional 2,260 shares during the period. Bank of America Corp DE boosted 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 worth $32,000 after purchasing an additional 2,578 shares during the period. BNP Paribas Financial Markets boosted 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 worth $29,000 after purchasing an additional 2,782 shares during the period. Finally, Independent Advisor Alliance increased its stake in shares of Crexendo by 13.2% in the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock worth $161,000 after acquiring an additional 2,890 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CXDO has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC raised their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock 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.