Crexendo (NASDAQ:CXDO) CRO Jon Brinton Sells 5,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.85, for a total value of $49,250.00. Following the completion of the sale, the executive owned 99,795 shares of the company’s stock, valued at $982,980.75. This represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.65, for a total value of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The stock was sold at an average price of $9.14, for a total value of $1,049,226.30.

Crexendo Trading Up 0.3%

Shares of CXDO stock opened at $9.78 on Thursday. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $10.04. The stock has a market capitalization of $317.07 million, a price-to-earnings ratio of 65.20 and a beta of 0.93. The stock has a fifty day simple moving average of $7.47 and a two-hundred day simple moving average of $6.94.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC boosted their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.40.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently added to or reduced their stakes in the company. MidFirst Bank purchased a new stake in Crexendo in the fourth quarter valued at about $1,277,000. Geode Capital Management LLC boosted its holdings in Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after acquiring an additional 173,530 shares in the last quarter. Potomac Capital Management Inc. acquired a new stake in Crexendo in the fourth quarter worth about $985,000. Jacobs Levy Equity Management Inc. acquired a new stake in Crexendo in the third quarter worth about $805,000. Finally, Renaissance Technologies LLC boosted its holdings in Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after acquiring an additional 119,037 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.