Crexendo (NASDAQ:CXDO) CEO Sells $268,380.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 27,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $9.94, for a total transaction of $268,380.00. Following the completion of the transaction, the chief executive officer owned 209,026 shares of the company’s stock, valued at $2,077,718.44. This represents a 11.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Crexendo Price Performance

Crexendo stock traded down $0.07 during trading hours on Friday, reaching $9.88. The stock had a trading volume of 583,366 shares, compared to its average volume of 251,690. The company has a market cap of $320.31 million, a price-to-earnings ratio of 65.87 and a beta of 0.93. The business’s 50 day moving average price is $7.53 and its 200-day moving average price is $6.96. Crexendo Inc. has a 52 week low of $5.08 and a 52 week high of $10.20.

Crexendo (NASDAQ:CXDO) last announced its 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. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. On average, sell-side analysts forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Crexendo

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position 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 buying an additional 2,782 shares during the last quarter. Strive Financial Group LLC acquired a new stake in Crexendo during the 4th quarter valued at approximately $31,000. Bank of America Corp DE lifted its stake in Crexendo by 71.7% during 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 during the period. JPMorgan Chase & Co. acquired a new stake in Crexendo during the 2nd quarter valued at approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Crexendo during the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CXDO shares. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reissued a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently 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.