Jeffrey Korn Sells 10,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 10,000 shares of Crexendo stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $7.14, for a total value of $71,400.00. Following the completion of the transaction, the chief executive officer directly owned 240,398 shares of the company’s stock, valued at approximately $1,716,441.72. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Crexendo Stock Performance

Shares of CXDO opened at $6.66 on Friday. The company’s 50-day simple moving average is $6.47 and its 200-day simple moving average is $5.97. Crexendo Inc. has a 1 year low of $3.75 and a 1 year high of $7.34. The stock has a market capitalization of $204.48 million, a PE ratio of 66.61 and a beta of 0.88.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $4.51 million during the quarter. Crexendo had a net margin of 4.75% and a return on equity of 11.33%. On average, sell-side analysts predict that Crexendo Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Crexendo during the 2nd quarter worth about $29,000. Huntington National Bank purchased a new position in Crexendo in the second quarter valued at approximately $30,000. Bank of America Corp DE raised its holdings in Crexendo by 71.7% during 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 in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo during the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Crexendo during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CXDO shares. B. Riley reiterated a “buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Crexendo in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a research report on Tuesday, October 14th. D. Boral Capital lifted their price objective on Crexendo from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Northland Securities set a $10.00 target price on shares of Crexendo in a research note on Wednesday. Finally, Needham & Company LLC raised their target price on shares of Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.