Crexendo (NASDAQ:CXDO) CTO Sells $187,250.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00. Following the sale, the chief technology officer owned 559,747 shares of the company’s stock, valued at $4,192,505.03. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

David Tzat-Kin Wang also recently made the following trade(s):

• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total transaction of $184,750.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00.

Crexendo Stock Up 1.8%

Crexendo stock opened at $7.05 on Friday. The firm has a 50 day moving average price of $8.06 and a 200-day moving average price of $7.11. Crexendo Inc. has a twelve month low of $5.18 and a twelve month high of $11.23. The company has a market capitalization of $228.43 million, a P/E ratio of 46.97 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last posted its quarterly 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 net margin of 6.15% and a return on equity of 13.84%. The company had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Equities analysts expect that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC boosted their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Investors Weigh In On Crexendo

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 25,161 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Crexendo in the first quarter valued at $155,000. Renaissance Technologies LLC raised its stake in shares of Crexendo by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after purchasing an additional 119,037 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after purchasing an additional 85,943 shares during the period. Finally, Sei Investments Co. lifted its holdings in Crexendo by 31.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after purchasing an additional 58,518 shares in the last quarter. 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.