Insider Selling: Crexendo (NASDAQ:CXDO) CRO Sells $96,500.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.65, for a total transaction of $96,500.00. Following the completion of the transaction, the executive directly owned 104,795 shares in the company, valued at $1,011,271.75. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jon Brinton also recently made the following trade(s):

• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The stock was sold at an average price of $9.14, for a total transaction of $1,049,226.30.

Crexendo Stock Performance

Shares of NASDAQ:CXDO opened at $9.61 on Thursday. The company’s 50-day moving average is $7.16 and its 200 day moving average is $6.84. The company has a market capitalization of $311.56 million, a P/E ratio of 64.07 and a beta of 0.93. Crexendo Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $9.90.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $20.71 million for 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%. As a group, research analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Crexendo

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Crexendo by 47.6% during the first quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock valued at $481,000 after purchasing an additional 25,161 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Crexendo in the first quarter worth about $155,000. Renaissance Technologies LLC lifted its holdings in shares of Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after buying an additional 119,037 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after buying an additional 85,943 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Crexendo by 31.9% in the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after buying an additional 58,518 shares in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CXDO shares. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC upped 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. Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $11.00 price objective 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.40.

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.