Crexendo (NASDAQ:CXDO) CRO Jon Brinton Sells 10,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $9.65, for a total value of $96,500.00. Following the completion of the sale, the executive owned 104,795 shares in the company, valued at $1,011,271.75. This represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Jon Brinton also recently made the following trade(s):

• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total value of $1,049,226.30.

Crexendo Stock Performance

Shares of Crexendo stock opened at $9.66 on Tuesday. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $9.90. The stock’s 50-day simple moving average is $7.05 and its 200 day simple moving average is $6.79. The stock has a market capitalization of $313.18 million, a P/E ratio of 64.40 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The business had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Equities research analysts forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 2,782 shares in the last quarter. Strive Financial Group LLC purchased a new position in shares of Crexendo during the fourth quarter worth about $31,000. Bank of America Corp DE grew its holdings in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after purchasing an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Crexendo during the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Crexendo during the second quarter worth about $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CXDO. Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Needham & Company LLC lifted their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Four 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

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.