David Tzat-Kin Wang Sells 20,482 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 20,482 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $7.00, for a total transaction of $143,374.00. Following the transaction, the chief technology officer owned 629,949 shares in the company, valued at $4,409,643. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Crexendo Stock Performance

Shares of CXDO stock opened at $6.79 on Thursday. Crexendo Inc. has a 52-week low of $3.75 and a 52-week high of $7.80. The stock has a market cap of $211.53 million, a price-to-earnings ratio of 39.94 and a beta of 0.98. The firm’s 50-day moving average is $6.63 and its 200-day moving average is $6.58.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $18.14 million. Crexendo had a return on equity of 13.74% and a net margin of 7.44%. Sell-side analysts predict that Crexendo Inc. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently made changes to their positions in CXDO. BNP Paribas Financial Markets lifted its holdings in Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Crexendo in the 2nd quarter valued at $29,000. Strive Financial Group LLC bought a new position in Crexendo during the 4th quarter worth $31,000. Huntington National Bank bought a new position in Crexendo during the 2nd quarter worth $30,000. Finally, Bank of America Corp DE lifted its holdings in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares in the last quarter. Institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CXDO shares. Wall Street Zen cut Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Lake Street Capital lifted their price objective on shares of Crexendo from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Crexendo in a report on Friday, January 9th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Crexendo in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.17.

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.