Crexendo (NASDAQ:CXDO) CEO Sells $268,380.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 27,000 shares of the business’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 transaction, the chief executive officer owned 209,026 shares of the company’s stock, valued at approximately $2,077,718.44. The trade was a 11.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Crexendo Stock Performance

Shares of CXDO stock opened at $9.88 on Monday. The firm has a fifty day moving average price of $7.60 and a 200 day moving average price of $6.98. The company has a market cap of $320.31 million, a P/E ratio of 65.87 and a beta of 1.08. Crexendo Inc. has a 12 month low of $5.08 and a 12 month high of $10.20.

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

Hedge Funds Weigh In On Crexendo

Several large investors have recently bought and sold shares of CXDO. Bank of America Corp DE boosted its stake in Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. NewEdge Advisors LLC raised 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 last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Crexendo in the first quarter valued at about $431,000. Geode Capital Management LLC raised 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 last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the second quarter valued at about $41,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

CXDO has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Needham & Company LLC upped their price objective 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. Finally, Lake Street Capital restated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

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.