Ron Vincent Sells 46,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 46,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.84, for a total transaction of $452,640.00. Following the sale, the chief financial officer owned 117,490 shares of the company’s stock, valued at $1,156,101.60. This trade represents a 28.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, May 22nd, Ron Vincent sold 29,000 shares of Crexendo stock. The shares were sold at an average price of $9.77, for a total transaction of $283,330.00.
• 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 Price Performance

CXDO opened at $9.95 on Friday. The firm has a market cap of $322.58 million, a P/E ratio of 66.33 and a beta of 0.93. Crexendo Inc. has a 1-year low of $5.08 and a 1-year high of $10.04. The company has a 50 day simple moving average of $7.53 and a two-hundred day simple moving average of $6.96.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share 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 during the quarter, compared to analyst estimates of $19.63 million. Equities analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Crexendo

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of 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 during the 4th quarter worth about $31,000. Bank of America Corp DE boosted its stake 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 purchasing an additional 2,578 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Crexendo during the 2nd quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Crexendo during the 2nd quarter worth approximately $48,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CXDO. Needham & Company LLC increased their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Crexendo in a research 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.