Anil Puri Sells 3,400 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) Director Anil Puri sold 3,400 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $9.44, for a total value of $32,096.00. Following the transaction, the director directly owned 53,114 shares of the company’s stock, valued at approximately $501,396.16. This represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Crexendo Trading Down 1.1%

CXDO stock traded down $0.11 during trading on Wednesday, hitting $9.61. 212,494 shares of the company’s stock were exchanged, compared to its average volume of 456,912. The business has a 50-day moving average price of $7.16 and a two-hundred day moving average price of $6.84. The stock has a market capitalization of $311.56 million, a price-to-earnings ratio of 64.07 and a beta of 0.93. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $9.90.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm 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%. On average, equities research analysts anticipate that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CXDO. BNP Paribas Financial Markets lifted its stake in 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 buying an additional 2,782 shares during the last quarter. Strive Financial Group LLC purchased a new stake in Crexendo in the fourth quarter valued at approximately $31,000. Bank of America Corp DE lifted its stake in 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 buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Crexendo in the second quarter valued at approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Crexendo in the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CXDO shares. Wall Street Zen downgraded Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Needham & Company LLC upped their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

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.