Douglas Walter Gaylor Sells 10,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $9.52, for a total value of $95,200.00. Following the completion of the sale, the chief operating officer owned 221,413 shares in the company, valued at $2,107,851.76. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was 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 stock was sold at an average price of $8.66, for a total value of $86,600.00.

Crexendo Price Performance

Crexendo stock traded down $0.23 during mid-day trading on Monday, reaching $9.66. 610,530 shares of the company were exchanged, compared to its average volume of 417,347. The company has a fifty day simple moving average of $7.05 and a 200-day simple moving average of $6.79. Crexendo Inc. has a 12 month low of $5.08 and a 12 month high of $9.90. The firm has a market cap of $313.18 million, a PE ratio of 64.40 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data 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 return on equity of 13.84% and a net margin of 6.15%.The firm had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. Sell-side analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Needham & Company LLC raised their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Crexendo presently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CXDO. Lazard Asset Management LLC bought a new position in shares of Crexendo in the 1st quarter worth about $155,000. Renaissance Technologies LLC boosted its stake in 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 last quarter. Arrowstreet Capital Limited Partnership boosted its stake in 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 last quarter. Sei Investments Co. boosted its stake in Crexendo by 31.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock valued at $1,492,000 after purchasing an additional 58,518 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Crexendo in the first quarter valued at approximately $208,000. 9.53% of the stock is owned by institutional investors and hedge funds.

About Crexendo

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.