Crexendo (NASDAQ:CXDO) CRO Jon Brinton Sells 20,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 20,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.69, for a total transaction of $213,800.00. Following the transaction, the executive directly owned 69,795 shares in the company, valued at approximately $746,108.55. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, May 29th, Jon Brinton sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.99, for a total transaction of $99,900.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $9.85, for a total transaction of $49,250.00.
• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total transaction of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total transaction of $1,049,226.30.

Crexendo Price Performance

Shares of CXDO stock opened at $10.03 on Wednesday. The firm has a 50-day moving average of $7.68 and a 200-day moving average of $7.00. The company has a market cap of $325.17 million, a P/E ratio of 66.87 and a beta of 1.08. Crexendo Inc. has a one year low of $5.13 and a one year high of $11.23.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CXDO. BNP Paribas Financial Markets increased its stake 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 buying an additional 2,782 shares during the period. Strive Financial Group LLC bought a new stake in Crexendo in the fourth quarter valued at $31,000. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Crexendo in the second quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Crexendo in the second quarter valued at $48,000. 9.53% of the stock is owned by hedge funds and other 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.