Insider Selling: Crexendo (NASDAQ:CXDO) CEO Sells $393,025.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 39,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.95, for a total value of $393,025.00. Following the sale, the chief executive officer owned 209,026 shares of the company’s stock, valued at approximately $2,079,808.70. This trade represents a 15.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Crexendo Stock Down 0.7%

NASDAQ:CXDO opened at $9.88 on Friday. The business’s 50 day moving average is $7.60 and its two-hundred day moving average is $6.98. Crexendo Inc. has a 52 week low of $5.08 and a 52 week high of $10.20. The company has a market cap of $320.31 million, a PE ratio of 65.87 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last released 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 return on equity of 13.84% and a net margin of 6.15%.The company had revenue of $20.71 million for the quarter, compared to the consensus estimate of $19.63 million. As a group, sell-side analysts expect that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a 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 presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Institutional Trading of Crexendo

Several hedge funds have recently made changes to their positions in CXDO. MidFirst Bank bought a new stake in shares of Crexendo in the 4th quarter worth approximately $1,277,000. Geode Capital Management LLC lifted its holdings in shares of Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after purchasing an additional 173,530 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Crexendo in the 4th quarter worth approximately $985,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Crexendo in the 3rd quarter worth approximately $805,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Crexendo by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after purchasing an additional 119,037 shares during the last quarter. Institutional investors own 9.53% of the company’s stock.

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.