Douglas Walter Gaylor Sells 5,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $10.35, for a total transaction of $51,750.00. Following the sale, the chief operating officer owned 222,816 shares of the company’s stock, valued at approximately $2,306,145.60. This represents a 2.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Douglas Walter Gaylor also recently made the following trade(s):

• On Friday, May 29th, Douglas Walter Gaylor sold 55,000 shares of Crexendo stock. The shares were sold at an average price of $10.00, for a total transaction of $550,000.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total transaction of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.52, for a total transaction of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Price Performance

Shares of Crexendo stock traded down $0.44 during trading on Tuesday, reaching $10.03. 1,448,552 shares of the company traded hands, compared to its average volume of 668,582. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23. The company has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.00. The firm has a market capitalization of $325.17 million, a PE ratio of 66.87 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. Equities research analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CXDO. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. 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. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Crexendo has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CXDO. BNP Paribas Financial Markets boosted its holdings in shares of Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after buying an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new position in shares of Crexendo during the fourth quarter worth $31,000. Bank of America Corp DE boosted its position 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 acquiring an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Crexendo during the 2nd quarter valued at approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Crexendo during the 2nd quarter valued at approximately $48,000. 9.53% of the stock is owned by hedge funds and other 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.