Crexendo (NASDAQ:CXDO) CTO Sells $184,750.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of Crexendo stock in a transaction on Friday, June 12th. The stock was sold at an average price of $7.39, for a total transaction of $184,750.00. Following the completion of the transaction, the chief technology officer directly owned 584,747 shares of the company’s stock, valued at $4,321,280.33. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00.

Crexendo Trading Up 1.8%

Shares of NASDAQ:CXDO opened at $7.05 on Friday. Crexendo Inc. has a 12 month low of $5.18 and a 12 month high of $11.23. The company has a 50-day moving average price of $8.06 and a 200 day moving average price of $7.11. The company has a market cap of $228.43 million, a price-to-earnings ratio of 46.97 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The company had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. As a group, equities analysts forecast that Crexendo Inc. will post 0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CXDO shares. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their price objective on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Crexendo currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Potomac Capital Management Inc. purchased a new stake in shares of Crexendo during the 4th quarter worth $985,000. Globeflex Capital L P grew its stake in Crexendo by 593.3% in the fourth quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock valued at $838,000 after purchasing an additional 110,795 shares during the last quarter. Walleye Capital LLC purchased a new position in Crexendo in the first quarter valued at about $208,000. D.A. Davidson & CO. raised its holdings in Crexendo by 3.5% in the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in Crexendo in the first quarter worth about $139,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

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.