Jeffrey Korn Sells 10,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $7.25, for a total transaction of $72,500.00. Following the completion of the transaction, the chief executive officer owned 230,398 shares in the company, valued at $1,670,385.50. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Crexendo Price Performance

NASDAQ:CXDO opened at $6.81 on Friday. The firm has a market capitalization of $209.28 million, a price-to-earnings ratio of 68.11 and a beta of 0.88. The business has a fifty day moving average price of $6.54 and a 200-day moving average price of $6.04. Crexendo Inc. has a one year low of $3.75 and a one year high of $7.65.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $0.02 EPS for the quarter. The firm had revenue of $4.51 million for the quarter. Crexendo had a return on equity of 11.33% and a net margin of 4.75%. On average, equities research analysts expect that Crexendo Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crexendo

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in Crexendo by 172.6% in 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 last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Crexendo during the second quarter worth $29,000. Huntington National Bank acquired a new stake in shares of Crexendo during the 2nd quarter valued at about $30,000. Bank of America Corp DE increased its position 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 buying an additional 2,578 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Crexendo in the second quarter valued at about $41,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Northland Securities set a $10.00 price objective on Crexendo in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of Crexendo from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Lake Street Capital raised their price objective on Crexendo from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Crexendo in a research note on Tuesday, October 14th. Finally, D. Boral Capital upped their price objective on Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.08.

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.