NewEdge Advisors LLC Reduces Position in Crexendo Inc. $CXDO

NewEdge Advisors LLC trimmed its position in Crexendo Inc. (NASDAQ:CXDO) by 75.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,328 shares of the company’s stock after selling 85,025 shares during the period. NewEdge Advisors LLC owned 0.08% of Crexendo worth $169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 2,782 shares during the period. Strive Financial Group LLC purchased a new stake in Crexendo during the 4th quarter valued at about $31,000. Bank of America Corp DE increased its holdings in shares of Crexendo by 71.7% in 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. acquired a new position in shares of Crexendo in the second quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Crexendo in the second quarter worth about $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Insider Buying and Selling

In other news, CRO Jon Brinton sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.69, for a total transaction of $213,800.00. Following the sale, the executive owned 69,795 shares of the company’s stock, valued at $746,108.55. This trade represents a 22.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ron Vincent sold 90,000 shares of Crexendo stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.03, for a total transaction of $902,700.00. Following the transaction, the chief financial officer directly owned 117,490 shares of the company’s stock, valued at approximately $1,178,424.70. This trade represents a 43.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 275,000 shares of company stock valued at $2,640,200. Insiders own 47.20% of the company’s stock.

Crexendo Price Performance

Shares of CXDO opened at $6.38 on Thursday. The business’s 50-day moving average is $7.11 and its two-hundred day moving average is $7.20. The company has a market capitalization of $212.13 million, a P/E ratio of 45.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.98 and a current ratio of 2.06. Crexendo Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $11.23.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Crexendo had a return on equity of 14.34% and a net margin of 5.31%.The business had revenue of $24.65 million during the quarter, compared to analysts’ expectations of $24.65 million. Research analysts predict that Crexendo Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CXDO shares. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. Needham & Company LLC raised their price target 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, B. Riley Financial reduced their price target on shares of Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.50.

Crexendo Company Profile

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.