Crexendo (NASDAQ:CXDO) CTO Sells $184,750.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $7.39, for a total transaction of $184,750.00. Following the transaction, the chief technology officer directly owned 584,747 shares of the company’s stock, valued at $4,321,280.33. The trade was a 4.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $10.01, for a total transaction of $250,250.00.

Crexendo Price Performance

Shares of NASDAQ:CXDO traded down $0.43 during mid-day trading on Tuesday, reaching $7.05. 573,108 shares of the company were exchanged, compared to its average volume of 343,450. Crexendo Inc. has a 1 year low of $5.18 and a 1 year high of $11.23. The firm has a market cap of $228.56 million, a price-to-earnings ratio of 47.00 and a beta of 1.08. The firm’s 50-day simple moving average is $8.01 and its 200 day simple moving average is $7.10.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating 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 analysts’ expectations of $19.63 million. On average, research analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Crexendo

A number of hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its position in Crexendo by 3.5% in the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after purchasing an additional 1,311 shares during the period. Goldman Sachs Group Inc. grew its position in Crexendo by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after buying an additional 2,260 shares during the period. Bank of America Corp DE grew its position 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. BNP Paribas Financial Markets grew its position 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. Finally, Occudo Quantitative Strategies LP grew its position in shares of Crexendo by 20.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 18,016 shares of the company’s stock valued at $117,000 after purchasing an additional 3,056 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.