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

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.49, for a total value of $187,250.00. Following the sale, the chief technology officer owned 559,747 shares in the company, valued at approximately $4,192,505.03. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total value of $184,750.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total value of $250,250.00.

Crexendo Stock Down 5.7%

Shares of CXDO opened at $7.05 on Wednesday. The business’s 50-day moving average price is $8.03 and its 200-day moving average price is $7.11. Crexendo Inc. has a twelve month low of $5.18 and a twelve month high of $11.23. The stock has a market cap of $228.56 million, a PE ratio of 47.00 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company 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%. Analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of Crexendo

A number of institutional investors have recently made changes to their positions in CXDO. MidFirst Bank purchased a new stake in Crexendo in the fourth quarter worth $1,277,000. Geode Capital Management LLC lifted its stake in Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after acquiring an additional 173,530 shares during the period. Potomac Capital Management Inc. purchased a new stake in Crexendo in the fourth quarter worth $985,000. Jacobs Levy Equity Management Inc. purchased a new stake in Crexendo in the third quarter worth $805,000. Finally, Renaissance Technologies LLC lifted its stake in Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after acquiring an additional 119,037 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital restated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to 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.