Insider Selling: Crexendo (NASDAQ:CXDO) CEO Sells $163,200.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 20,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $8.16, for a total value of $163,200.00. Following the transaction, the chief executive officer directly owned 228,615 shares in the company, valued at $1,865,498.40. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Crexendo Stock Performance

Shares of CXDO opened at $9.36 on Friday. The firm has a market capitalization of $303.45 million, a price-to-earnings ratio of 62.40 and a beta of 0.93. Crexendo Inc. has a one year low of $5.08 and a one year high of $9.84. The stock’s fifty day moving average is $6.60 and its 200-day moving average is $6.63.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. Analysts forecast that Crexendo Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Lake Street Capital reissued a “buy” rating and set a $11.00 price target on shares of Crexendo in a report on Wednesday. Finally, Needham & Company LLC raised their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Essex Investment Management Co. LLC grew its holdings in Crexendo by 3.3% during the third quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock worth $4,846,000 after acquiring an additional 23,676 shares during the period. Vanguard Group Inc. grew its holdings in Crexendo by 11.2% during the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock worth $4,562,000 after acquiring an additional 70,791 shares during the period. Geode Capital Management LLC grew its holdings in Crexendo by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock worth $2,598,000 after acquiring an additional 50,288 shares during the period. Dimensional Fund Advisors LP grew its holdings in Crexendo by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock worth $2,346,000 after acquiring an additional 52,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Crexendo by 4.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 320,499 shares of the company’s stock worth $2,083,000 after acquiring an additional 13,845 shares during the period. 9.53% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Crexendo

Here are the key news stories impacting Crexendo this week:

• Positive Sentiment: Needham & Company raised its price target on Crexendo to $12.00 and reiterated a Buy rating, reinforcing the bullish view that the shares still have room to run. Article Title
• Positive Sentiment: Crexendo’s latest quarterly results beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of $20.71 million versus $19.63 million expected, supporting the company’s growth and profitability narrative. Article Title
• Positive Sentiment: Management said it will present at upcoming investor conferences, which could increase visibility with institutional investors and give the company another platform to highlight its ESI acquisition and consecutive quarters of GAAP profitability. Article Title
• Neutral Sentiment: Several analyst and commentary pieces focused on Crexendo’s growth momentum and earnings call details, adding context but not changing the near-term catalyst picture by themselves. Article Title
• Negative Sentiment: Top executives, including the CEO, COO, CFO, and CRO, disclosed sizable stock sales over May 4-6. While insider selling does not necessarily change fundamentals, it can create short-term pressure and weigh on investor sentiment. Article Title

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.