Insider Selling: Crexendo (NASDAQ:CXDO) CFO Sells 29,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 29,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $9.77, for a total value of $283,330.00. Following the completion of the transaction, the chief financial officer owned 117,087 shares in the company, valued at $1,143,939.99. This represents a 19.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ron Vincent also recently made the following trade(s):

• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The stock was sold at an average price of $9.84, for a total value of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The stock was sold at an average price of $9.75, for a total value of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total transaction of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total transaction of $154,570.46.

Crexendo Stock Performance

Shares of CXDO traded up $0.03 during mid-day trading on Wednesday, hitting $9.78. The company’s stock had a trading volume of 452,261 shares, compared to its average volume of 540,442. Crexendo Inc. has a one year low of $5.08 and a one year high of $10.04. The firm has a market capitalization of $317.07 million, a PE ratio of 65.20 and a beta of 0.93. The stock’s 50-day moving average is $7.47 and its two-hundred day moving average is $6.94.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data 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. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The company had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $19.63 million. Analysts expect that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in Crexendo by 3.5% during the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after acquiring an additional 1,311 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Crexendo by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after acquiring an additional 2,260 shares in the last quarter. Bank of America Corp DE raised its stake 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 acquiring an additional 2,578 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Crexendo by 13.2% in the third quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock valued at $161,000 after buying an additional 2,890 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Finally, Needham & Company LLC increased their price objective 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.