Crexendo (NASDAQ:CXDO) CEO Jeffrey Korn Sells 8,500 Shares

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $9.94, for a total value of $84,490.00. Following the completion of the transaction, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at $2,077,718.44. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crexendo Trading Down 0.7%

NASDAQ:CXDO traded down $0.07 on Friday, reaching $9.88. 583,366 shares of the stock traded hands, compared to its average volume of 251,690. The firm has a market capitalization of $320.31 million, a price-to-earnings ratio of 65.87 and a beta of 0.93. The company’s 50 day moving average is $7.53 and its 200-day moving average is $6.96. Crexendo Inc. has a 1-year low of $5.08 and a 1-year high of $10.20.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CXDO has been the subject of a number of recent analyst reports. Lake Street Capital reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Hedge Funds Weigh In On Crexendo

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Crexendo by 47.6% during the 1st quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock worth $481,000 after buying an additional 25,161 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Crexendo during the 1st quarter worth approximately $155,000. Renaissance Technologies LLC boosted its holdings in shares of Crexendo by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after buying an additional 119,037 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after buying an additional 85,943 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Crexendo by 31.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after buying an additional 58,518 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.