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

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $7.39, for a total value of $184,750.00. Following the completion of the transaction, the chief technology officer owned 584,747 shares of the company’s stock, valued at $4,321,280.33. This represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total value of $187,250.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $10.01, for a total value of $250,250.00.

Crexendo Price Performance

CXDO stock opened at $6.92 on Thursday. Crexendo Inc. has a 1-year low of $5.18 and a 1-year high of $11.23. The business has a fifty day moving average price of $8.04 and a 200-day moving average price of $7.11. The stock has a market capitalization of $224.35 million, a P/E ratio of 46.13 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results 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. 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 analysts’ expectations of $19.63 million. As a group, analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of Crexendo

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Crexendo by 172.6% in 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 during the period. Strive Financial Group LLC bought a new stake in Crexendo during the fourth quarter valued at about $31,000. Bank of America Corp DE grew its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the period. JPMorgan Chase & Co. bought a new stake in Crexendo during the second quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Crexendo during the second quarter valued at about $48,000. Institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CXDO shares. Needham & Company LLC lifted their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four equities 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 stock currently has an average rating of “Moderate Buy” and an average 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.