Insider Selling: Crexendo (NASDAQ:CXDO) CEO Sells $71,400.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $7.14, for a total value of $71,400.00. Following the completion of the sale, the chief executive officer owned 240,398 shares of the company’s stock, valued at approximately $1,716,441.72. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Crexendo Stock Down 1.3%

Shares of NASDAQ CXDO opened at $6.66 on Monday. Crexendo Inc. has a 12-month low of $3.75 and a 12-month high of $7.34. The firm’s 50-day simple moving average is $6.47 and its 200 day simple moving average is $5.98. The company has a market cap of $204.67 million, a price-to-earnings ratio of 66.61 and a beta of 0.88.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $0.02 earnings per share for the quarter. Crexendo had a net margin of 4.75% and a return on equity of 11.33%. The firm had revenue of $4.51 million during the quarter. On average, equities analysts expect that Crexendo Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CXDO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. D. Boral Capital boosted their target price on Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Needham & Company LLC raised their price target on Crexendo from $8.00 to $9.00 and gave the company a “buy” rating in a report on Thursday, October 30th. B. Riley reiterated a “buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Crexendo in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Crexendo from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Crexendo has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% during the fourth 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 during the last quarter. Perkins Capital Management Inc. raised its position in shares of Crexendo by 241.2% in the 1st quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company’s stock valued at $831,000 after acquiring an additional 120,600 shares during the period. GSA Capital Partners LLP boosted its stake in Crexendo by 23.3% during the 1st quarter. GSA Capital Partners LLP now owns 115,521 shares of the company’s stock worth $563,000 after acquiring an additional 21,810 shares during the last quarter. Bard Associates Inc. increased its stake in Crexendo by 13.3% in the first quarter. Bard Associates Inc. now owns 666,093 shares of the company’s stock valued at $3,244,000 after purchasing an additional 77,968 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Crexendo in the first quarter valued at approximately $122,000. Institutional investors own 9.53% of the company’s stock.

Crexendo Company Profile

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.