PEAK6 LLC Invests $846,000 in Crexendo Inc. $CXDO

PEAK6 LLC purchased a new position in shares of Crexendo Inc. (NASDAQ:CXDO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 113,260 shares of the company’s stock, valued at approximately $846,000. PEAK6 LLC owned approximately 0.34% of Crexendo as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Potomac Capital Management Inc. acquired a new position in Crexendo in the 4th quarter worth about $985,000. MidFirst Bank purchased a new stake in shares of Crexendo in the second quarter valued at approximately $1,474,000. Renaissance Technologies LLC raised its stake in shares of Crexendo by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after buying an additional 119,037 shares during the period. Bard Associates Inc. purchased a new position in shares of Crexendo during the 2nd quarter valued at approximately $2,689,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Crexendo by 26.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after acquiring an additional 85,943 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Stock Performance

NASDAQ:CXDO opened at $6.39 on Monday. Crexendo Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $11.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.98 and a current ratio of 2.06. The company has a 50 day moving average price of $7.16 and a 200 day moving average price of $7.21. The stock has a market capitalization of $212.47 million, a P/E ratio of 45.64 and a beta of 1.12.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, topping 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 the consensus estimate of $24.65 million. Equities research analysts forecast that Crexendo Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CXDO. Needham & Company LLC upped 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 price objective on shares of Crexendo in a report on Wednesday, May 6th. B. Riley Financial reduced their target price on Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crexendo in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Insider Activity at Crexendo

In other news, CTO David Tzat-Kin Wang sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.01, for a total transaction of $250,250.00. Following the sale, the chief technology officer owned 604,949 shares of the company’s stock, valued at approximately $6,055,539.49. This trade represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas Walter Gaylor sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $10.00, for a total value of $550,000.00. Following the completion of the transaction, the chief operating officer directly owned 227,816 shares of the company’s stock, valued at $2,278,160. This trade represents a 19.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 401,000 shares of company stock worth $3,887,985 over the last ninety days. 47.20% of the stock is currently owned by insiders.

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.