Crexendo (NASDAQ:CXDO) CFO Ron Vincent Sells 46,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 46,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.84, for a total transaction of $452,640.00. Following the sale, the chief financial officer owned 117,490 shares in the company, valued at $1,156,101.60. The trade was a 28.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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 transaction of $283,330.00.
• 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 transaction of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total transaction 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 transaction 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 transaction of $154,570.46.

Crexendo Trading Up 0.3%

Shares of CXDO stock opened at $9.78 on Thursday. The stock has a market capitalization of $317.07 million, a P/E ratio of 65.20 and a beta of 0.93. The firm’s 50 day moving average is $7.47 and its 200 day moving average is $6.94. Crexendo Inc. has a 12 month low of $5.08 and a 12 month high of $10.04.

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

Analyst Ratings Changes

CXDO has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Lake Street Capital restated 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 raised their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. increased its position in shares of Crexendo by 3.5% in the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after purchasing an additional 1,311 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Crexendo by 2.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after purchasing an additional 2,260 shares during the last quarter. Bank of America Corp DE increased its position in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after purchasing an additional 2,578 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Crexendo by 172.6% in the third 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. Finally, Independent Advisor Alliance increased its position in shares of Crexendo by 13.2% in the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock worth $161,000 after purchasing an additional 2,890 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.