Crexendo Inc. $CXDO Stock Position Lifted by Globeflex Capital L P

Globeflex Capital L P lifted its holdings in Crexendo Inc. (NASDAQ:CXDO) by 593.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,470 shares of the company’s stock after purchasing an additional 110,795 shares during the quarter. Globeflex Capital L P owned 0.42% of Crexendo worth $838,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CXDO. Bank of America Corp DE grew its stake in shares of Crexendo by 71.7% in 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 in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Crexendo by 28.1% in the first quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after buying an additional 16,267 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Crexendo in the first quarter valued at $431,000. Geode Capital Management LLC lifted its holdings in shares of Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after buying an additional 173,530 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Crexendo in the second quarter valued at $41,000. Institutional investors own 9.53% of the company’s stock.

Insider Buying and Selling at Crexendo

In other news, CEO Jeffrey G. Korn sold 27,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.94, for a total transaction of $268,380.00. Following the completion of the sale, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at $2,077,718.44. This represents a 11.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Douglas Walter Gaylor sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.35, for a total value of $51,750.00. Following the sale, the chief operating officer directly owned 222,816 shares of the company’s stock, valued at approximately $2,306,145.60. This represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 662,666 shares of company stock valued at $6,311,947 over the last 90 days. 47.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CXDO shares. Needham & Company LLC upped their price objective on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and issued 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Crexendo Stock Down 2.7%

Shares of Crexendo stock opened at $8.93 on Friday. Crexendo Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $11.23. The firm has a market cap of $289.51 million, a price-to-earnings ratio of 59.53 and a beta of 1.08. The business has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $7.05.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 EPS 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 business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

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.