Crexendo (NASDAQ:CXDO) CRO Sells $49,250.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $9.85, for a total value of $49,250.00. Following the sale, the executive owned 99,795 shares of the company’s stock, valued at $982,980.75. The trade was a 4.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.65, for a total transaction of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total transaction of $1,049,226.30.

Crexendo Price Performance

Crexendo stock traded up $0.03 during trading on Wednesday, reaching $9.78. 452,261 shares of the company were exchanged, compared to its average volume of 540,442. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $10.04. The stock’s 50 day simple moving average is $7.47 and its two-hundred day simple moving average is $6.94. The company has a market capitalization of $317.07 million, a P/E ratio of 65.20 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $20.71 million for the quarter, compared to analysts’ expectations of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. As a group, equities analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Crexendo

Several large investors have recently bought and sold shares of CXDO. BNP Paribas Financial Markets increased its holdings in 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 purchasing an additional 2,782 shares during the period. Strive Financial Group LLC purchased a new position in shares of Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE increased its holdings in shares of 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 last quarter. JPMorgan Chase & Co. purchased a new position in shares of Crexendo in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Crexendo in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CXDO. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat, Crexendo has a consensus rating of “Moderate Buy” and an average target price of $10.40.

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.