Crexendo (NASDAQ:CXDO) CFO Sells $14,137.50 in Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 1,450 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $9.75, for a total transaction of $14,137.50. Following the completion of the sale, the chief financial officer directly owned 117,087 shares of the company’s stock, valued at $1,141,598.25. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ron Vincent also recently made the following trade(s):

• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total transaction of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total transaction of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total transaction of $154,570.46.

Crexendo Stock Up 2.0%

Crexendo stock opened at $9.34 on Thursday. The company has a market capitalization of $302.80 million, a PE ratio of 62.27 and a beta of 0.93. The firm has a fifty day simple moving average of $6.87 and a two-hundred day simple moving average of $6.72. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $9.84.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results 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 business 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%. As a group, equities analysts expect that Crexendo Inc. will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crexendo

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after buying an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new position in Crexendo in the fourth quarter worth about $31,000. Bank of America Corp DE raised 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 worth $32,000 after buying an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Crexendo in the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Crexendo in the second quarter worth about $48,000. 9.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CXDO shares. Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Finally, Needham & Company LLC increased their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.