Insider Selling: Crexendo (NASDAQ:CXDO) CFO Sells 90,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 90,000 shares of Crexendo stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.03, for a total transaction of $902,700.00. Following the completion of the transaction, the chief financial officer directly owned 117,490 shares in the company, valued at approximately $1,178,424.70. This represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Ron Vincent also recently made the following trade(s):

• On Friday, May 22nd, Ron Vincent sold 29,000 shares of Crexendo stock. The shares were sold at an average price of $9.77, for a total value of $283,330.00.
• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The shares were sold at an average price of $9.84, for a total value of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The shares were sold at an average price of $9.75, for a total value of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The shares were sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Stock Performance

NASDAQ:CXDO traded down $0.44 during mid-day trading on Tuesday, hitting $10.03. The company had a trading volume of 1,448,552 shares, compared to its average volume of 668,582. Crexendo Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $11.23. The business’s fifty day moving average is $7.68 and its two-hundred day moving average is $7.00. The firm has a market cap of $325.17 million, a P/E ratio of 66.87 and a beta of 1.08.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Crexendo by 47.6% during the first quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock worth $481,000 after purchasing an additional 25,161 shares during the period. Lazard Asset Management LLC acquired a new stake in Crexendo during the first quarter worth approximately $155,000. Renaissance Technologies LLC grew its stake in Crexendo by 52.3% during the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after purchasing an additional 119,037 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Crexendo by 26.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after purchasing an additional 85,943 shares during the period. Finally, Sei Investments Co. grew its stake in Crexendo by 31.9% during the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after purchasing an additional 58,518 shares during the period. 9.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. 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 reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crexendo presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

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.