Crexendo (NASDAQ:CXDO) CEO Jeffrey Korn Sells 8,500 Shares

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 8,500 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $9.94, for a total value of $84,490.00. Following the completion of the sale, the chief executive officer owned 209,026 shares of the company’s stock, valued at $2,077,718.44. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Crexendo Price Performance

CXDO opened at $9.88 on Friday. The business has a fifty day simple moving average of $7.60 and a 200 day simple moving average of $6.98. The company has a market capitalization of $320.26 million, a PE ratio of 65.87 and a beta of 0.93. Crexendo Inc. has a 1 year low of $5.08 and a 1 year high of $10.20.

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

Institutional Trading of Crexendo

A number of institutional investors have recently modified their holdings of CXDO. Essex Investment Management Co. LLC lifted its holdings in shares of Crexendo by 3.3% during the 3rd 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. lifted its holdings in shares of Crexendo by 11.2% during the 3rd 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. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after acquiring an additional 85,943 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Crexendo by 14.3% during the 4th 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Crexendo by 15.9% during the 1st 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. 9.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Crexendo presently has an average rating of “Moderate Buy” and a consensus target price 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.