Crexendo (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 25,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total value of $250,250.00. Following the completion of the transaction, the chief technology officer owned 604,949 shares of the company’s stock, valued at $6,055,539.49. This trade represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

David Tzat-Kin Wang also recently made the following trade(s):

• On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The shares were sold at an average price of $7.00, for a total value of $143,374.00.

Crexendo Price Performance

CXDO traded down $0.25 during trading on Thursday, hitting $8.93. The company’s stock had a trading volume of 468,670 shares, compared to its average volume of 688,920. The firm’s 50 day moving average price is $7.86 and its 200-day moving average price is $7.05. The stock has a market cap of $289.51 million, a PE ratio of 59.53 and a beta of 1.08. Crexendo Inc. has a twelve month low of $5.13 and a twelve month high of $11.23.

Crexendo (NASDAQ:CXDO) last issued 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 company had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. Equities analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of Crexendo

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Crexendo by 47.6% during the 1st quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock worth $481,000 after buying an additional 25,161 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Crexendo during the 1st quarter worth $155,000. Renaissance Technologies LLC boosted its position in Crexendo by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after purchasing an additional 119,037 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after purchasing an additional 85,943 shares during the period. Finally, Sei Investments Co. boosted its position in Crexendo by 31.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after purchasing an additional 58,518 shares during the period. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital restated a “buy” rating and set a $11.00 price objective 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 stock. Based on data from MarketBeat.com, the company 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.