Crexendo (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 25,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of Crexendo stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $10.01, for a total transaction of $250,250.00. Following the sale, the chief technology officer owned 604,949 shares in the company, valued at approximately $6,055,539.49. This represents a 3.97% 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 hyperlink.

David Tzat-Kin Wang also recently made the following trade(s):

• On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The stock was sold at an average price of $7.00, for a total transaction of $143,374.00.

Crexendo Stock Performance

Shares of NASDAQ CXDO opened at $8.93 on Friday. The company has a market capitalization of $289.47 million, a P/E ratio of 59.53 and a beta of 1.08. Crexendo Inc. has a 52-week low of $5.13 and a 52-week high of $11.23. The company’s 50 day moving average price is $7.86 and its 200-day moving average price is $7.05.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm 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%. Analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Crexendo

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after acquiring an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new stake in shares of Crexendo in the 4th quarter valued at $31,000. Bank of America Corp DE increased its stake in shares of Crexendo by 71.7% in 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 in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Crexendo in the 2nd quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Crexendo in the 2nd quarter valued at $48,000. Institutional investors 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.