Insider Selling: Crexendo (NASDAQ:CXDO) CFO Sells $452,640.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 46,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.84, for a total value of $452,640.00. Following the completion of the transaction, the chief financial officer directly owned 117,490 shares in the company, valued at approximately $1,156,101.60. This represents a 28.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Ron Vincent also recently made the following trade(s):

• On Friday, May 22nd, Ron Vincent sold 29,000 shares of Crexendo stock. The stock was sold at an average price of $9.77, for a total value of $283,330.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The stock was sold at an average price of $9.75, for a total value of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Stock Down 0.7%

NASDAQ:CXDO opened at $9.88 on Friday. The business’s 50-day simple moving average is $7.60 and its two-hundred day simple moving average is $6.98. The stock has a market cap of $320.31 million, a PE ratio of 65.87 and a beta of 0.93. Crexendo Inc. has a 52 week low of $5.08 and a 52 week high of $10.20.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (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 firm had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Sell-side analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on CXDO shares. Needham & Company LLC lifted their price target on 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 reaffirmed a “buy” rating and set a $11.00 target price on shares of Crexendo in a research note 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently bought and sold shares of CXDO. MidFirst Bank acquired a new position in shares of Crexendo during the fourth quarter worth $1,277,000. Geode Capital Management LLC increased its position in shares of Crexendo by 120.1% during the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after purchasing an additional 173,530 shares in the last quarter. Potomac Capital Management Inc. acquired a new position in shares of Crexendo during the fourth quarter worth $985,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Crexendo during the third quarter worth $805,000. Finally, Renaissance Technologies LLC increased its position in shares of Crexendo by 52.3% during the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after purchasing an additional 119,037 shares in the last quarter. Institutional investors own 9.53% of the company’s stock.

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.