Insider Selling: Crexendo (NASDAQ:CXDO) CTO Sells $162,500.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Wang sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $6.50, for a total transaction of $162,500.00. Following the completion of the transaction, the chief technology officer directly owned 534,747 shares of the company’s stock, valued at approximately $3,475,855.50. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

David Tzat-Kin Wang also recently made the following trade(s):

• On Monday, June 15th, David Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Friday, June 12th, David Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total transaction of $184,750.00.

Crexendo Stock Performance

Shares of NASDAQ:CXDO opened at $5.92 on Friday. Crexendo Inc. has a 52 week low of $5.55 and a 52 week high of $11.23. The stock has a market capitalization of $196.84 million, a P/E ratio of 42.29 and a beta of 1.11. The firm has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $7.20. The company has a quick ratio of 1.98, a current ratio of 2.06 and a debt-to-equity ratio of 0.06.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. The firm had revenue of $24.65 million for the quarter, compared to analysts’ expectations of $24.65 million. On average, analysts expect that Crexendo Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CXDO shares. B. Riley Financial lowered their price objective on Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Crexendo in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Institutional Investors Weigh In On Crexendo

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Crexendo during the 2nd quarter valued at $7,957,000. Vanguard Group Inc. increased its stake in Crexendo by 11.2% in the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock worth $4,562,000 after purchasing an additional 70,791 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Crexendo by 26.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after purchasing an additional 85,943 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crexendo by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock worth $2,598,000 after purchasing an additional 50,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Crexendo by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock valued at $2,346,000 after purchasing an additional 52,200 shares during the period. 9.53% of the stock is currently 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.