Insider Selling: Crexendo (NASDAQ:CXDO) COO Sells $51,750.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.35, for a total transaction of $51,750.00. Following the sale, the chief operating officer directly owned 222,816 shares in the company, valued at $2,306,145.60. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Douglas Walter Gaylor also recently made the following trade(s):

• On Friday, May 29th, Douglas Walter Gaylor sold 55,000 shares of Crexendo stock. The shares were sold at an average price of $10.00, for a total transaction of $550,000.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total transaction of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.52, for a total transaction of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Trading Down 2.7%

Shares of CXDO opened at $8.93 on Friday. The stock has a market capitalization of $289.51 million, a P/E ratio of 59.53 and a beta of 1.08. The firm’s fifty day simple moving average is $7.86 and its two-hundred day simple moving average is $7.05. Crexendo Inc. has a 12 month low of $5.13 and a 12 month high of $11.23.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million for the quarter, compared to analysts’ expectations 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 predict that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Crexendo

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its position in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after acquiring an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new position in Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE lifted its position in Crexendo by 71.7% in the 4th 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 position in Crexendo in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Crexendo in the 2nd quarter valued at about $48,000. Institutional investors own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

About Crexendo

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.