Crexendo (NASDAQ:CXDO) CTO Sells $162,500.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $6.50, for a total value of $162,500.00. Following the completion of the sale, the chief technology officer directly owned 534,747 shares of the company’s stock, valued at approximately $3,475,855.50. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.39, for a total transaction of $184,750.00.

Crexendo Stock Performance

CXDO stock traded down $0.23 during trading hours on Tuesday, reaching $5.91. The stock had a trading volume of 333,315 shares, compared to its average volume of 379,237. The stock has a 50-day simple moving average of $7.07 and a 200 day simple moving average of $7.20. Crexendo Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $11.23. The stock has a market capitalization of $196.51 million, a PE ratio of 42.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.06 and a quick ratio of 1.98.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $24.65 million for the quarter, compared to analyst estimates of $24.65 million. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. Analysts predict that Crexendo Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CXDO. B. Riley Financial lowered their price target on Crexendo from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crexendo in a research note on Monday, August 3rd. Finally, Lake Street Capital reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.50.

Institutional Trading of Crexendo

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after buying an additional 2,782 shares during the period. Strive Financial Group LLC acquired a new position in Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE raised its holdings in 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 acquiring an additional 2,578 shares during the period. JPMorgan Chase & Co. bought a new position in Crexendo in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Crexendo during the second quarter worth approximately $48,000. Institutional investors and hedge funds 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.