Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 392,610 Shares

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 392,610 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $4.90, for a total value of $1,923,789.00. Following the completion of the transaction, the chief technology officer now owns 445,995 shares of the company’s stock, valued at $2,185,375.50. This represents a 46.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, March 13th, David Tzat-Kin Wang sold 229,476 shares of Crexendo stock. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00.

Crexendo Trading Up 0.2%

Shares of Crexendo stock opened at $5.36 on Friday. The business has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $5.43. Crexendo, Inc. has a 1-year low of $2.92 and a 1-year high of $7.34. The company has a market cap of $155.61 million, a P/E ratio of 178.73 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its holdings in Crexendo by 8.9% in the fourth quarter. Barclays PLC now owns 25,688 shares of the company’s stock worth $134,000 after purchasing an additional 2,105 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of Crexendo by 10.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 43,600 shares of the company’s stock worth $212,000 after buying an additional 4,300 shares during the period. Northern Trust Corp increased its stake in shares of Crexendo by 44.8% in the 4th quarter. Northern Trust Corp now owns 19,680 shares of the company’s stock valued at $103,000 after acquiring an additional 6,085 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Crexendo in the 4th quarter valued at $44,000. 9.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CXDO has been the topic of several analyst reports. Craig Hallum assumed coverage on Crexendo in a report on Monday, April 7th. They issued a “buy” rating and a $8.00 target price on the stock. D. Boral Capital restated a “buy” rating and issued a $10.00 price target on shares of Crexendo in a research report on Wednesday, May 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $7.50 price objective (up from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th.

About Crexendo

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.