Occudo Quantitative Strategies LP Reduces Position in Crexendo, Inc. (NASDAQ:CXDO)

Occudo Quantitative Strategies LP trimmed its holdings in shares of Crexendo, Inc. (NASDAQ:CXDO) by 25.9% during the fourth quarter, Holdings Channel reports. The fund owned 18,503 shares of the company’s stock after selling 6,471 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Crexendo were worth $97,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CXDO. Renaissance Technologies LLC raised its stake in shares of Crexendo by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock valued at $1,434,000 after purchasing an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Crexendo by 65.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock valued at $1,138,000 after purchasing an additional 86,162 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new stake in shares of Crexendo in the 4th quarter valued at about $304,000. NewEdge Advisors LLC raised its stake in shares of Crexendo by 265.3% in the 4th quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock valued at $303,000 after purchasing an additional 42,020 shares in the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in shares of Crexendo by 83.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 55,000 shares of the company’s stock valued at $288,000 after purchasing an additional 25,000 shares in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO David Tzat-Kin Wang sold 229,476 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This represents a 33.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey G. Korn sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the chief executive officer now owns 243,384 shares in the company, valued at approximately $1,460,304. This trade represents a 3.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,476 shares of company stock worth $1,384,818 over the last quarter. 56.20% of the stock is owned by company insiders.

Crexendo Stock Up 4.3%

CXDO opened at $5.84 on Friday. The firm has a market cap of $169.54 million, a price-to-earnings ratio of 194.73 and a beta of 1.09. Crexendo, Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.34. The company’s 50-day moving average price is $5.10 and its 200 day moving average price is $5.43.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CXDO. B. Riley restated a “buy” rating and issued a $7.50 target price (up previously from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th. Craig Hallum began coverage on shares of Crexendo in a research note on Monday, April 7th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, D. Boral Capital restated a “buy” rating and issued a $10.00 target price on shares of Crexendo in a research note on Wednesday, May 7th.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.