Crexendo, Inc. (NASDAQ:CXDO) CTO Sells $1,262,118.00 in Stock

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 229,476 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00. Following the completion of the sale, the chief technology officer now directly owns 445,995 shares in the company, valued at $2,452,972.50. This represents a 33.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Crexendo Stock Up 3.0 %

Shares of Crexendo stock opened at $5.92 on Tuesday. The stock’s fifty day moving average is $5.94 and its 200-day moving average is $5.42. The firm has a market capitalization of $165.17 million, a PE ratio of 197.40 and a beta of 1.15. Crexendo, Inc. has a 12-month low of $2.92 and a 12-month high of $7.34.

Analyst Upgrades and Downgrades

CXDO has been the topic of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. D. Boral Capital boosted their target price on Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in Crexendo by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock valued at $1,434,000 after buying an additional 38,700 shares during the period. Dimensional Fund Advisors LP raised its position in Crexendo by 65.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock valued at $1,138,000 after buying an additional 86,162 shares during the period. Geode Capital Management LLC raised its position in Crexendo by 18.4% during the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after buying an additional 21,739 shares during the period. Two Sigma Investments LP raised its position in Crexendo by 36.9% during the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company’s stock valued at $652,000 after buying an additional 33,602 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new position in Crexendo during the fourth quarter valued at $304,000. 9.53% of the stock is owned by institutional investors and hedge funds.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.