Crexendo (NASDAQ:CXDO) CFO Ron Vincent Sells 46,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 46,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.84, for a total transaction of $452,640.00. Following the transaction, the chief financial officer directly owned 117,490 shares in the company, valued at $1,156,101.60. This trade represents a 28.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, May 22nd, Ron Vincent sold 29,000 shares of Crexendo stock. The shares were sold at an average price of $9.77, for a total transaction of $283,330.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The shares were sold at an average price of $9.75, for a total transaction of $14,137.50.
• 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 transaction of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total transaction of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The shares were sold at an average price of $8.14, for a total transaction of $154,570.46.

Crexendo Price Performance

NASDAQ CXDO traded up $0.03 during trading on Wednesday, reaching $9.78. 452,261 shares of the company’s stock traded hands, compared to its average volume of 540,442. The firm has a market cap of $317.07 million, a price-to-earnings ratio of 65.20 and a beta of 0.93. The company’s 50 day simple moving average is $7.47 and its two-hundred day simple moving average is $6.94. Crexendo Inc. has a 12-month low of $5.08 and a 12-month high of $10.04.

Crexendo (NASDAQ:CXDO) last posted its 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 business had revenue of $20.71 million for the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. Research analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CXDO. Needham & Company LLC raised their price target on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Crexendo currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Trading of Crexendo

A number of institutional investors have recently modified their holdings of the company. Diversify Wealth Management LLC acquired a new stake in Crexendo in the 1st quarter worth approximately $139,000. MidFirst Bank acquired a new stake in Crexendo in the 4th quarter worth approximately $1,277,000. Potomac Capital Management Inc. acquired a new stake in Crexendo in the 4th quarter worth approximately $985,000. Globeflex Capital L P boosted its stake in Crexendo by 593.3% in the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock worth $838,000 after purchasing an additional 110,795 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in Crexendo by 104.8% in the 4th quarter. Prospera Financial Services Inc now owns 58,920 shares of the company’s stock worth $381,000 after purchasing an additional 30,145 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.