PEAK6 LLC Buys New Position in Crexendo Inc. $CXDO

PEAK6 LLC acquired a new stake in Crexendo Inc. (NASDAQ:CXDO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 113,260 shares of the company’s stock, valued at approximately $846,000.

A number of other large investors have also recently bought and sold shares of CXDO. Globeflex Capital L P purchased a new stake in Crexendo during the 2nd quarter valued at approximately $967,000. Bard Associates Inc. purchased a new stake in shares of Crexendo during the second quarter worth approximately $2,689,000. Diversify Advisory Services LLC purchased a new stake in shares of Crexendo during the second quarter worth approximately $147,000. MidFirst Bank acquired a new stake in shares of Crexendo during the second quarter worth $1,474,000. Finally, BlackRock Inc. purchased a new position in Crexendo in the 2nd quarter valued at $7,957,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Price Performance

NASDAQ:CXDO opened at $6.39 on Monday. Crexendo Inc. has a 12-month low of $5.55 and a 12-month high of $11.23. The firm has a market cap of $212.47 million, a price-to-earnings ratio of 45.64 and a beta of 1.12. The company’s 50-day moving average is $7.16 and its two-hundred day moving average is $7.21. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $24.65 million during the quarter, compared to analyst estimates of $24.65 million. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. Research analysts expect that Crexendo Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, COO Douglas Walter Gaylor sold 55,000 shares of Crexendo stock in a transaction on Friday, May 29th. The shares were sold at an average price of $10.00, for a total transaction of $550,000.00. Following the transaction, the chief operating officer owned 227,816 shares in the company, valued at approximately $2,278,160. The trade was a 19.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $10.01, for a total transaction of $250,250.00. Following the sale, the chief technology officer directly owned 604,949 shares of the company’s stock, valued at approximately $6,055,539.49. This trade represents a 3.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 401,000 shares of company stock valued at $3,887,985 over the last quarter. 47.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CXDO has been the topic of a number of recent analyst reports. B. Riley Financial dropped their price target on shares of Crexendo from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Crexendo in a research note on Monday, August 3rd. Lake Street Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research report on Wednesday, May 6th. Finally, Needham & Company LLC upped their price target on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Crexendo presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

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.