Ron Vincent Sells 15,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $7.05, for a total value of $105,750.00. Following the transaction, the chief financial officer directly owned 175,809 shares in the company, valued at $1,239,453.45. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Crexendo Price Performance

NASDAQ CXDO traded down $0.18 on Friday, reaching $6.57. The stock had a trading volume of 91,207 shares, compared to its average volume of 182,077. The firm has a fifty day moving average of $6.46 and a two-hundred day moving average of $5.94. Crexendo Inc. has a 1-year low of $3.75 and a 1-year high of $7.34. The company has a market cap of $201.71 million, a P/E ratio of 65.70 and a beta of 0.88.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, June 7th. The company reported $0.02 EPS for the quarter. The company had revenue of $4.51 million for the quarter. Crexendo had a return on equity of 11.33% and a net margin of 4.75%. Research analysts predict that Crexendo Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in Crexendo during the 2nd quarter valued at $29,000. Huntington National Bank acquired a new position in shares of Crexendo during the second quarter valued at about $30,000. Bank of America Corp DE increased its position in shares of 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 acquiring an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Crexendo during the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Crexendo in the 2nd quarter worth about $48,000. 9.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CXDO has been the subject of several analyst reports. Northland Securities set a $10.00 target price on Crexendo in a research report on Wednesday. B. Riley restated a “buy” rating and set a $8.00 price target (up previously from $7.50) on shares of Crexendo in a report on Wednesday. D. Boral Capital increased their price objective on shares of Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Lake Street Capital boosted their target price on shares of Crexendo from $8.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

Crexendo Company Profile

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.