Crexendo (NASDAQ:CXDO) CTO Sells $143,374.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 20,482 shares of Crexendo stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $7.00, for a total value of $143,374.00. Following the sale, the chief technology officer directly owned 629,949 shares of the company’s stock, valued at $4,409,643. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Crexendo Price Performance

Shares of NASDAQ CXDO traded down $0.11 during midday trading on Tuesday, hitting $6.83. 293,118 shares of the company’s stock were exchanged, compared to its average volume of 211,254. The firm’s fifty day simple moving average is $6.61 and its 200-day simple moving average is $6.57. The company has a market cap of $212.75 million, a PE ratio of 25.70 and a beta of 0.98. Crexendo Inc. has a twelve month low of $3.75 and a twelve month high of $7.80.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $18.06 million for the quarter, compared to analyst estimates of $18.14 million. Crexendo had a net margin of 7.44% and a return on equity of 13.74%. Equities analysts anticipate that Crexendo Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Crexendo

Several institutional investors have recently added to or reduced their stakes in CXDO. MidFirst Bank purchased a new stake in shares of Crexendo during the fourth quarter worth approximately $1,277,000. Geode Capital Management LLC increased its stake in Crexendo by 120.1% in the 2nd 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. Potomac Capital Management Inc. acquired a new position in Crexendo in the 4th quarter valued at $985,000. Acadian Asset Management LLC raised its position in Crexendo by 39.2% during the 2nd quarter. Acadian Asset Management LLC now owns 470,081 shares of the company’s stock worth $2,850,000 after buying an additional 132,294 shares during the last quarter. Finally, Pembroke Management LTD lifted its stake in shares of Crexendo by 209.3% in the 3rd quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock worth $1,270,000 after acquiring an additional 132,201 shares during the period. 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 reports. Needham & Company LLC reissued a “buy” rating on shares of Crexendo in a report on Monday, March 2nd. Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Lake Street Capital boosted their price objective on Crexendo from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a research report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.17.

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.