Crexendo (NASDAQ:CXDO) CFO Ron Vincent Sells 90,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.03, for a total value of $902,700.00. Following the completion of the sale, the chief financial officer directly owned 117,490 shares in the company, valued at approximately $1,178,424.70. This represents a 43.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ron Vincent also recently made the following trade(s):

• On Friday, May 22nd, Ron Vincent sold 29,000 shares of Crexendo stock. The stock was sold at an average price of $9.77, for a total value of $283,330.00.
• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The stock was sold at an average price of $9.84, for a total value of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The shares were sold at an average price of $9.75, for a total value of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The shares were sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Trading Down 4.2%

Shares of CXDO opened at $10.03 on Wednesday. The firm has a market cap of $325.17 million, a PE ratio of 66.87 and a beta of 1.08. The firm has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $7.00. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analyst estimates 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 forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CXDO has been the subject of several analyst reports. Lake Street Capital restated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Needham & Company LLC raised 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. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.40.

Institutional Trading of Crexendo

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Crexendo by 47.6% in the first quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock worth $481,000 after purchasing an additional 25,161 shares during the last quarter. Lazard Asset Management LLC bought a new position in Crexendo in the first quarter worth approximately $155,000. Renaissance Technologies LLC raised its stake in 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 raised its stake in 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. raised its stake in 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. 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.