Crexendo (NASDAQ:CXDO) CRO Jon Brinton Sells 10,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $9.99, for a total value of $99,900.00. Following the completion of the sale, the executive directly owned 89,795 shares of the company’s stock, valued at $897,052.05. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, June 1st, Jon Brinton sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $10.69, for a total value of $213,800.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The stock was sold at an average price of $9.85, for a total value of $49,250.00.
• 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 Price Performance

Shares of NASDAQ CXDO opened at $10.03 on Wednesday. The stock has a fifty day moving average price of $7.68 and a 200 day moving average price of $7.00. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23. The company has a market cap of $325.17 million, a PE ratio of 66.87 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last issued 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. 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 the consensus estimate of $19.63 million. Analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after acquiring an additional 85,943 shares in the last quarter. D.A. Davidson & CO. raised its position in Crexendo by 3.5% in the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after acquiring an additional 1,311 shares in the last quarter. Walleye Capital LLC purchased a new position in Crexendo in the first quarter worth $208,000. Diversify Wealth Management LLC purchased a new position in Crexendo in the first quarter worth $139,000. Finally, MidFirst Bank purchased a new position in shares of Crexendo in the fourth quarter valued at $1,277,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC increased their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Crexendo 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 stock 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.