Insider Selling: Crexendo (NASDAQ:CXDO) CFO Sells 1,450 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 1,450 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $9.75, for a total transaction of $14,137.50. Following the completion of the transaction, the chief financial officer directly owned 117,087 shares of the company’s stock, valued at $1,141,598.25. This trade represents a 1.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ron Vincent also recently made the following trade(s):

• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Price Performance

Shares of Crexendo stock traded up $0.11 during midday trading on Monday, hitting $9.47. 549,430 shares of the company were exchanged, compared to its average volume of 220,014. The firm has a 50 day simple moving average of $6.60 and a 200-day simple moving average of $6.63. The firm has a market cap of $306.97 million, a P/E ratio of 63.13 and a beta of 0.93. Crexendo Inc. has a 52 week low of $5.08 and a 52 week high of $9.84.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pembroke Management LTD boosted its holdings in shares of Crexendo by 209.3% in the 3rd quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock worth $1,270,000 after acquiring an additional 132,201 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Crexendo in the 3rd quarter worth approximately $230,000. Diversify Wealth Management LLC acquired a new position in shares of Crexendo in the 1st quarter worth approximately $139,000. MidFirst Bank acquired a new position in shares of Crexendo during the fourth quarter worth approximately $1,277,000. Finally, Potomac Capital Management Inc. acquired a new position in shares of Crexendo during the fourth quarter worth approximately $985,000. 9.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen cut shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC lifted their target price on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.

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.