David Tzat-Kin Wang Sells 25,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.49, for a total value of $187,250.00. Following the transaction, the chief technology officer directly owned 559,747 shares in the company, valued at $4,192,505.03. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

David Tzat-Kin Wang also recently made the following trade(s):

• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total value of $184,750.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total value of $250,250.00.

Crexendo Stock Performance

Shares of NASDAQ CXDO traded down $0.43 during midday trading on Tuesday, hitting $7.05. 573,108 shares of the stock traded hands, compared to its average volume of 343,450. Crexendo Inc. has a one year low of $5.18 and a one year high of $11.23. The firm has a 50-day moving average of $8.01 and a two-hundred day moving average of $7.10. The firm has a market capitalization of $228.56 million, a P/E ratio of 47.00 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, 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 analysts’ expectations of $19.63 million. Equities analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC raised 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. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently bought and sold shares of CXDO. MidFirst Bank bought a new stake in Crexendo during the fourth quarter valued at about $1,277,000. Geode Capital Management LLC raised its holdings in Crexendo by 120.1% during the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after acquiring an additional 173,530 shares during the period. Potomac Capital Management Inc. bought a new stake in Crexendo during the fourth quarter valued at about $985,000. Jacobs Levy Equity Management Inc. bought a new stake in Crexendo during the third quarter valued at about $805,000. Finally, Renaissance Technologies LLC raised its holdings in Crexendo by 52.3% during the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after acquiring an additional 119,037 shares during the period. 9.53% of the stock is owned by institutional investors.

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.