Insider Selling: Crexendo (NASDAQ:CXDO) CRO Sells $49,250.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 5,000 shares of Crexendo stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.85, for a total value of $49,250.00. Following the transaction, the executive owned 99,795 shares in the company, valued at $982,980.75. This trade represents a 4.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total value of $96,500.00.
• 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 Price Performance

NASDAQ:CXDO opened at $9.88 on Friday. Crexendo Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $10.20. The stock has a market capitalization of $320.26 million, a PE ratio of 65.87 and a beta of 0.93. The business’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $6.98.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating 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 business had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. On average, research analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CXDO. Needham & Company LLC lifted their price objective on Crexendo from $9.00 to $12.00 and gave the company 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 research note on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Investors Weigh In On Crexendo

Several institutional investors have recently bought and sold shares of CXDO. Bank of America Corp DE lifted its stake in Crexendo by 71.7% in the 4th 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 in the last quarter. NewEdge Advisors LLC lifted its stake in Crexendo by 28.1% in the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after acquiring an additional 16,267 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Crexendo in the 1st quarter valued at approximately $431,000. Geode Capital Management LLC lifted its stake in Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after acquiring an additional 173,530 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Crexendo in the 2nd quarter valued at approximately $41,000. Institutional investors own 9.53% of the company’s stock.

Crexendo Company Profile

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.