Crexendo (NASDAQ:CXDO) COO Douglas Walter Gaylor Sells 20,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 20,000 shares of Crexendo stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.99, for a total transaction of $199,800.00. Following the completion of the sale, the chief operating officer owned 227,816 shares of the company’s stock, valued at $2,275,881.84. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Douglas Walter Gaylor also recently made the following trade(s):

• On Friday, May 29th, Douglas Walter Gaylor sold 55,000 shares of Crexendo stock. The stock was sold at an average price of $10.00, for a total transaction of $550,000.00.
• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The stock was sold at an average price of $10.35, for a total transaction of $51,750.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.52, for a total transaction of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Stock Down 4.2%

Shares of CXDO stock opened at $10.03 on Wednesday. The company has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.00. Crexendo Inc. has a 52 week low of $5.13 and a 52 week high of $11.23. The firm has a market capitalization of $325.17 million, a PE ratio of 66.87 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. Analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CXDO. Lake Street Capital restated a “buy” rating and set a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Weiss Ratings upgraded 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 boosted 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Trading of Crexendo

Several large investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. grew its position in Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after buying an additional 1,311 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Crexendo by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after purchasing an additional 2,260 shares during the period. Bank of America Corp DE boosted its position in shares of 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 purchasing an additional 2,578 shares during the period. BNP Paribas Financial Markets boosted its position in shares of 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 purchasing an additional 2,782 shares during the period. Finally, Independent Advisor Alliance boosted its position in shares of Crexendo by 13.2% in the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock worth $161,000 after purchasing an additional 2,890 shares during the period. 9.53% of the stock is currently owned by institutional investors.

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.