Crexendo (NASDAQ:CXDO) CEO Jeffrey Korn Sells 39,500 Shares

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 39,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.95, for a total transaction of $393,025.00. Following the completion of the sale, the chief executive officer directly owned 209,026 shares in the company, valued at $2,079,808.70. This trade represents a 15.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Crexendo Stock Performance

Crexendo stock opened at $9.78 on Thursday. The company’s 50 day simple moving average is $7.47 and its 200-day simple moving average is $6.94. The company has a market capitalization of $317.07 million, a price-to-earnings ratio of 65.20 and a beta of 0.93. Crexendo Inc. has a 1 year low of $5.08 and a 1 year high of $10.04.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business 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%. Equities analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on CXDO shares. Lake Street Capital reissued a “buy” rating and set a $11.00 price target on shares of Crexendo in a research report on Wednesday, May 6th. Needham & Company LLC upped their price objective 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 raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Hedge Funds Weigh In On Crexendo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in shares of Crexendo by 172.6% in 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 during the period. Strive Financial Group LLC purchased a new position in shares of Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE boosted its stake in shares of Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Crexendo in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Crexendo in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

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.