Douglas Walter Gaylor Sells 55,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 55,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $10.00, for a total value of $550,000.00. Following the completion of the sale, the chief operating officer owned 227,816 shares of the company’s stock, valued at approximately $2,278,160. This represents a 19.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Douglas Walter Gaylor also recently made the following trade(s):

• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $10.35, for a total value of $51,750.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total value of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.52, for a total value of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total value of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total value of $86,600.00.

Crexendo Stock Performance

CXDO stock opened at $9.18 on Thursday. The company has a market capitalization of $297.62 million, a P/E ratio of 61.20 and a beta of 1.08. Crexendo Inc. has a 52-week low of $5.13 and a 52-week high of $11.23. The business has a 50-day simple moving average of $7.81 and a two-hundred day simple moving average of $7.04.

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 during the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. As a group, sell-side analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crexendo

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC boosted its stake in shares of Crexendo by 3.3% in the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock worth $4,846,000 after buying an additional 23,676 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Crexendo by 11.2% in the 3rd quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock worth $4,562,000 after buying an additional 70,791 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Crexendo by 26.8% in the 1st 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Crexendo by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock worth $2,598,000 after buying an additional 50,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Crexendo by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock worth $2,346,000 after buying an additional 52,200 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CXDO. Needham & Company LLC lifted their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and set a $11.00 price target on shares of Crexendo in a research note 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

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.