Prospera Financial Services Inc Buys New Shares in Crexendo Inc. $CXDO

Prospera Financial Services Inc bought a new position in shares of Crexendo Inc. (NASDAQ:CXDO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,400 shares of the company’s stock, valued at approximately $118,000.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank purchased a new position in shares of Crexendo in the 2nd quarter valued at about $30,000. Bank of America Corp DE increased its stake in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares during the period. Algert Global LLC acquired a new stake in Crexendo in the first quarter valued at approximately $61,000. Mink Brook Asset Management LLC acquired a new stake in Crexendo in the first quarter valued at approximately $75,000. Finally, Trexquant Investment LP purchased a new position in Crexendo in the first quarter worth approximately $90,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $7.14, for a total transaction of $71,400.00. Following the transaction, the chief executive officer directly owned 240,398 shares in the company, valued at approximately $1,716,441.72. This trade represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ron Vincent sold 15,000 shares of Crexendo stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $7.05, for a total transaction of $105,750.00. Following the completion of the transaction, the chief financial officer directly owned 175,809 shares in the company, valued at $1,239,453.45. The trade was a 7.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,000 shares of company stock valued at $537,810 over the last quarter. Company insiders own 47.20% of the company’s stock.

Crexendo Price Performance

Shares of CXDO opened at $6.81 on Monday. Crexendo Inc. has a 1-year low of $3.75 and a 1-year high of $7.65. The stock has a market cap of $209.28 million, a PE ratio of 68.11 and a beta of 0.88. The firm has a fifty day moving average price of $6.54 and a 200 day moving average price of $6.06.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on CXDO. B. Riley reissued a “buy” rating and issued a $8.00 price objective (up from $7.50) on shares of Crexendo in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Crexendo in a report on Tuesday, October 14th. Wall Street Zen upgraded Crexendo from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. D. Boral Capital upped their price objective on Crexendo from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Northland Securities set a $10.00 price objective on Crexendo in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.