Insider Selling: Crexendo (NASDAQ:CXDO) Director Sells $32,096.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) Director Anil Puri sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $9.44, for a total value of $32,096.00. Following the completion of the sale, the director owned 53,114 shares of the company’s stock, valued at approximately $501,396.16. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Crexendo Stock Performance

CXDO opened at $9.61 on Friday. The business has a 50 day moving average price of $7.27 and a 200 day moving average price of $6.88. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $9.90. The firm has a market cap of $311.56 million, a P/E ratio of 64.07 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share 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 during the quarter, compared to analyst estimates of $19.63 million. As a group, analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. D.A. Davidson & CO. lifted its holdings in shares of Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after buying an additional 1,311 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Crexendo during the first quarter worth approximately $208,000. Diversify Wealth Management LLC acquired a new position in shares of Crexendo during the first quarter worth approximately $139,000. MidFirst Bank acquired a new position in shares of Crexendo during the fourth quarter worth approximately $1,277,000. Finally, Globeflex Capital L P lifted its holdings in shares of Crexendo by 593.3% during the fourth quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock worth $838,000 after buying an additional 110,795 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CXDO shares. Needham & Company LLC boosted their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.