Ron Vincent Sells 90,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.03, for a total value of $902,700.00. Following the completion of the transaction, the chief financial officer owned 117,490 shares in the company, valued at approximately $1,178,424.70. This trade represents a 43.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 value of $283,330.00.
• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The shares were sold at an average price of $9.84, for a total value of $452,640.00.
• 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 value 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 value 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 value 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 value of $154,570.46.

Crexendo Price Performance

NASDAQ CXDO opened at $9.18 on Thursday. The company has a market cap of $297.62 million, a PE ratio of 61.20 and a beta of 1.08. The stock’s 50 day simple moving average is $7.81 and its 200-day simple moving average is $7.04. Crexendo Inc. has a 1-year low of $5.13 and a 1-year 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, beating the consensus estimate 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 return on equity of 13.84% and a net margin of 6.15%. On average, equities research analysts anticipate that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CXDO has been the topic of several research reports. Needham & Company LLC raised their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Finally, Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Investors Weigh In On Crexendo

Several hedge funds and other institutional investors have recently made changes to their positions in CXDO. BNP Paribas Financial Markets increased its holdings in shares of Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after purchasing an additional 2,782 shares during the last quarter. Strive Financial Group LLC acquired a new stake in shares of Crexendo in the fourth quarter valued at approximately $31,000. Bank of America Corp DE increased its holdings in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Crexendo in the second quarter valued at approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Crexendo in the second quarter valued at approximately $48,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.