Insider Selling: Crexendo (NASDAQ:CXDO) CRO Sells $213,800.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 20,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.69, for a total value of $213,800.00. Following the completion of the sale, the executive owned 69,795 shares in the company, valued at approximately $746,108.55. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, May 29th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total value of $99,900.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $9.85, for a total value of $49,250.00.
• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total value of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total value of $1,049,226.30.

Crexendo Price Performance

Crexendo stock opened at $8.93 on Friday. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23. The stock has a market cap of $289.51 million, a PE ratio of 59.53 and a beta of 1.08. The stock’s fifty day moving average is $7.86 and its two-hundred day moving average is $7.05.

Crexendo (NASDAQ:CXDO) last posted 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 business had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. On average, research analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CXDO shares. Lake Street Capital reiterated a “buy” rating and set a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Needham & Company LLC lifted their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Crexendo currently has an average rating of “Moderate Buy” and an average target price of $10.40.

Hedge Funds Weigh In On Crexendo

Institutional investors have recently added to or reduced their stakes in the stock. Globeflex Capital L P increased its position in Crexendo by 593.3% in the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock valued at $838,000 after acquiring an additional 110,795 shares during the period. Diversify Wealth Management LLC acquired a new position in Crexendo in the 1st quarter valued at about $139,000. MidFirst Bank acquired a new position in Crexendo in the 4th quarter valued at about $1,277,000. Potomac Capital Management Inc. acquired a new position in Crexendo in the 4th quarter valued at about $985,000. Finally, Prospera Financial Services Inc increased its position in Crexendo by 104.8% in the 4th quarter. Prospera Financial Services Inc now owns 58,920 shares of the company’s stock valued at $381,000 after acquiring an additional 30,145 shares during the period. Institutional investors and hedge funds 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.