Crexendo (NASDAQ:CXDO) CEO Jeffrey Korn Sells 27,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CEO Jeffrey Korn sold 27,000 shares of Crexendo stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $9.94, for a total value of $268,380.00. Following the completion of the sale, the chief executive officer directly owned 209,026 shares of the company’s stock, valued at $2,077,718.44. The trade was a 11.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Crexendo Trading Down 0.7%

Shares of NASDAQ CXDO opened at $9.88 on Friday. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $10.20. The stock has a fifty day simple moving average of $7.60 and a 200-day simple moving average of $6.98. The stock has a market capitalization of $320.26 million, a PE ratio of 65.87 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The business had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $19.63 million. On average, equities analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current year.

Institutional Trading of Crexendo

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after buying an additional 2,782 shares during the last quarter. Strive Financial Group LLC purchased a new stake in shares of Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE lifted its holdings 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 purchasing an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the 2nd quarter valued at about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Crexendo in the 2nd quarter valued at about $48,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CXDO. Needham & Company LLC boosted their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Lake Street Capital reissued a “buy” rating and set a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Crexendo presently has a consensus rating of “Moderate Buy” and an average 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.