Crexendo (NASDAQ:CXDO) COO Douglas Walter Gaylor Sells 55,000 Shares

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 55,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $10.00, for a total value of $550,000.00. Following the transaction, the chief operating officer owned 227,816 shares of the company’s stock, valued at $2,278,160. This trade represents a 19.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The stock was sold at an average price of $10.35, for a total value of $51,750.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.99, for a total value of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.52, for a total value of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.37, for a total value of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.66, for a total value of $86,600.00.

Crexendo Price Performance

Crexendo stock opened at $10.03 on Wednesday. The business has a 50 day simple moving average of $7.68 and a 200 day simple moving average of $7.00. Crexendo Inc. has a one year low of $5.13 and a one year high of $11.23. The company has a market capitalization of $325.17 million, a PE ratio of 66.87 and a beta of 1.08.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in shares of Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after acquiring an additional 1,311 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Crexendo by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after acquiring an additional 2,260 shares during the last quarter. Bank of America Corp DE raised 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. BNP Paribas Financial Markets raised its position in shares of Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Independent Advisor Alliance raised its position in shares of Crexendo by 13.2% during the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock worth $161,000 after acquiring an additional 2,890 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.