Insider Selling: Crexendo (NASDAQ:CXDO) CRO Sells 10,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.65, for a total transaction of $96,500.00. Following the transaction, the executive owned 104,795 shares of the company’s stock, valued at approximately $1,011,271.75. This represents a 8.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The stock was sold at an average price of $9.14, for a total transaction of $1,049,226.30.

Crexendo Stock Performance

CXDO stock traded down $0.23 during trading on Monday, hitting $9.66. 610,530 shares of the company’s stock traded hands, compared to its average volume of 417,347. Crexendo Inc. has a 52 week low of $5.08 and a 52 week high of $9.90. The business has a fifty day simple moving average of $7.05 and a 200 day simple moving average of $6.79. The stock has a market capitalization of $313.18 million, a price-to-earnings ratio of 64.40 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. Research analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CXDO. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 price target on shares of Crexendo in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Needham & Company LLC lifted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Four investment 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, Crexendo presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently bought and sold shares of CXDO. Bank of America Corp DE lifted its stake in Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares during the period. NewEdge Advisors LLC lifted its stake in Crexendo by 28.1% during the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after acquiring an additional 16,267 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Crexendo during the 1st quarter valued at approximately $431,000. Geode Capital Management LLC increased its holdings in shares of Crexendo by 120.1% during the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after purchasing an additional 173,530 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Crexendo during the 2nd quarter valued at approximately $41,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.