Douglas Walter Gaylor Sells 10,000 Shares of Crexendo, Inc. (NASDAQ:CXDO) Stock

Crexendo, Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $6.27, for a total value of $62,700.00. Following the completion of the sale, the chief operating officer now directly owns 230,007 shares in the company, valued at approximately $1,442,143.89. This represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Crexendo Trading Down 6.7 %

CXDO stock opened at $5.75 on Friday. The stock has a market capitalization of $160.43 million, a PE ratio of 191.73 and a beta of 1.15. Crexendo, Inc. has a 12-month low of $2.92 and a 12-month high of $7.34. The stock’s 50 day simple moving average is $5.94 and its 200 day simple moving average is $5.41.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CXDO shares. B. Riley reissued a “buy” rating and issued a $7.50 price target (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. D. Boral Capital upped their price objective on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Crexendo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXDO. Bank of America Corp DE lifted its position 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. Creative Financial Designs Inc. ADV purchased a new stake in Crexendo during the 4th quarter valued at $44,000. Walleye Capital LLC purchased a new stake in Crexendo during the 4th quarter valued at $69,000. Schonfeld Strategic Advisors LLC purchased a new stake in Crexendo during the 4th quarter valued at $69,000. Finally, GSA Capital Partners LLP raised its stake in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after buying an additional 5,139 shares during the last quarter. 9.53% of the stock is owned by institutional investors.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.