Douglas Walter Gaylor Sells 55,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 55,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $10.00, for a total transaction of $550,000.00. Following the completion of the sale, the chief operating officer owned 227,816 shares of the company’s stock, valued at approximately $2,278,160. The trade was a 19.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Douglas Walter Gaylor also recently made the following trade(s):

• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $10.35, for a total transaction of $51,750.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.99, for a total transaction of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.52, for a total transaction of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Stock Down 4.2%

Shares of CXDO traded down $0.44 during midday trading on Tuesday, hitting $10.03. The company had a trading volume of 1,448,552 shares, compared to its average volume of 668,582. The company’s 50 day moving average price is $7.68 and its 200 day moving average price is $7.00. The stock has a market cap of $325.17 million, a price-to-earnings ratio of 66.87 and a beta of 1.08. Crexendo Inc. has a 52 week low of $5.13 and a 52 week high of $11.23.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Equities analysts anticipate that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Institutional Trading of Crexendo

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Crexendo by 47.6% in the 1st quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock worth $481,000 after purchasing an additional 25,161 shares during the last quarter. Lazard Asset Management LLC bought a new position in Crexendo during the 1st quarter valued at about $155,000. Renaissance Technologies LLC raised its stake in shares of Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after acquiring an additional 119,037 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Crexendo by 26.8% in the first 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 last quarter. Finally, Sei Investments Co. raised its stake in shares of Crexendo by 31.9% in the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after acquiring an additional 58,518 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CXDO. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their price target on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.