Crexendo (NASDAQ:CXDO) CEO Sells $84,490.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 8,500 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $9.94, for a total value of $84,490.00. Following the sale, the chief executive officer directly owned 209,026 shares in the company, valued at $2,077,718.44. This trade represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Crexendo Stock Performance

Shares of NASDAQ CXDO opened at $9.88 on Monday. The stock has a market capitalization of $320.31 million, a PE ratio of 65.87 and a beta of 1.08. The stock’s fifty day simple moving average is $7.60 and its two-hundred day simple moving average is $6.98. Crexendo Inc. has a 12-month low of $5.08 and a 12-month high of $10.20.

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. The business had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. On average, equities analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Crexendo

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Essex Investment Management Co. LLC lifted its holdings in shares of Crexendo by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock valued at $4,846,000 after purchasing an additional 23,676 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Crexendo by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock valued at $4,562,000 after purchasing an additional 70,791 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after purchasing an additional 85,943 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Crexendo by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock valued at $2,598,000 after purchasing an additional 50,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Crexendo by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock valued at $2,346,000 after purchasing an additional 52,200 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CXDO shares. Needham & Company LLC increased 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 reiterated a “buy” rating and set a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.