Crexendo (NASDAQ:CXDO) CTO Sells $143,374.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 20,482 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $7.00, for a total transaction of $143,374.00. Following the transaction, the chief technology officer directly owned 629,949 shares of the company’s stock, valued at $4,409,643. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Crexendo Stock Performance

CXDO traded down $0.11 during trading on Tuesday, reaching $6.83. The company’s stock had a trading volume of 293,118 shares, compared to its average volume of 211,254. The company’s fifty day moving average price is $6.61 and its 200-day moving average price is $6.57. Crexendo Inc. has a 52-week low of $3.75 and a 52-week high of $7.80. The company has a market capitalization of $212.75 million, a price-to-earnings ratio of 25.70 and a beta of 0.98.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, March 3rd. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Crexendo had a return on equity of 13.74% and a net margin of 7.44%.The business had revenue of $18.06 million during the quarter, compared to the consensus estimate of $18.14 million. Equities analysts predict that Crexendo Inc. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

CXDO has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Crexendo in a report on Monday, March 2nd. Lake Street Capital increased their target price on shares of Crexendo from $8.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Crexendo has a consensus rating of “Moderate Buy” and a consensus target price of $9.17.

Institutional Investors Weigh In On Crexendo

Several institutional investors and hedge funds have recently made changes to their positions in CXDO. Police & Firemen s Retirement System of New Jersey acquired a new stake in Crexendo in the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets raised its position in Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after acquiring an additional 2,782 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Crexendo in the second quarter valued at about $30,000. Strive Financial Group LLC purchased a new stake in shares of Crexendo in the fourth quarter valued at about $31,000. Finally, Bank of America Corp DE grew its position in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the last quarter. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Crexendo Company Profile

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.