Crexendo (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 25,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.39, for a total transaction of $184,750.00. Following the sale, the chief technology officer directly owned 584,747 shares in the company, valued at $4,321,280.33. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $10.01, for a total transaction of $250,250.00.

Crexendo Trading Down 5.7%

Shares of Crexendo stock opened at $7.05 on Wednesday. The stock has a market capitalization of $228.56 million, a price-to-earnings ratio of 47.00 and a beta of 1.08. Crexendo Inc. has a 1-year low of $5.18 and a 1-year high of $11.23. The firm’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $7.11.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data 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 firm 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, equities research analysts predict that Crexendo Inc. will post 0.36 EPS for the current year.

Institutional Trading of Crexendo

Several hedge funds have recently modified their holdings of CXDO. Bank of America Corp DE grew its stake 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 last quarter. NewEdge Advisors LLC grew its stake in shares of Crexendo by 28.1% during 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 last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Crexendo during the first quarter valued at approximately $431,000. Geode Capital Management LLC grew its stake in shares of Crexendo by 120.1% during 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 last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Crexendo during the second quarter valued at approximately $41,000. 9.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CXDO. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and set a $11.00 price target on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased their price target on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Crexendo currently has an average rating of “Moderate Buy” and a consensus price target 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.