Crexendo (NASDAQ:CXDO) CEO Jeffrey Korn Sells 10,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 10,000 shares of Crexendo stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $7.14, for a total transaction of $71,400.00. Following the completion of the transaction, the chief executive officer directly owned 240,398 shares in the company, valued at approximately $1,716,441.72. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Crexendo Trading Down 2.7%

Shares of Crexendo stock traded down $0.18 during trading on Friday, reaching $6.57. The stock had a trading volume of 91,207 shares, compared to its average volume of 182,077. The company has a market capitalization of $201.71 million, a price-to-earnings ratio of 65.71 and a beta of 0.88. Crexendo Inc. has a 52 week low of $3.75 and a 52 week high of $7.34. The stock has a fifty day moving average price of $6.46 and a two-hundred day moving average price of $5.94.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.02 earnings per share (EPS) for the quarter. Crexendo had a return on equity of 11.33% and a net margin of 4.75%.The company had revenue of $4.51 million for the quarter. On average, equities analysts forecast that Crexendo Inc. will post 0.14 EPS for the current fiscal year.

Institutional Trading of Crexendo

Institutional investors and hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Crexendo in the second quarter worth $29,000. Huntington National Bank bought a new stake in Crexendo in the second quarter worth about $30,000. Bank of America Corp DE boosted its stake in 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 acquiring an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo during the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Crexendo in the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CXDO shares. Northland Securities set a $10.00 price target on shares of Crexendo in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Crexendo in a research note on Tuesday, October 14th. D. Boral Capital lifted their price objective on Crexendo from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. B. Riley reissued a “buy” rating and set a $8.00 target price (up from $7.50) on shares of Crexendo in a report on Wednesday. Finally, Lake Street Capital boosted their price target on Crexendo from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Crexendo presently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

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.