Insider Selling: Crexendo (NASDAQ:CXDO) COO Sells $187,400.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 20,000 shares of Crexendo stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $9.37, for a total transaction of $187,400.00. Following the sale, the chief operating officer directly owned 231,413 shares in the company, valued at approximately $2,168,339.81. This trade represents a 7.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Douglas Walter Gaylor also recently made the following trade(s):

• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Stock Down 4.3%

Crexendo stock opened at $9.36 on Friday. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $9.84. The firm has a market capitalization of $303.45 million, a price-to-earnings ratio of 62.40 and a beta of 0.93. The company has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.63.

Crexendo (NASDAQ:CXDO) last released its 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. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. On average, research analysts anticipate that Crexendo Inc. will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CXDO. Bank of America Corp DE lifted its position 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. NewEdge Advisors LLC lifted its position in Crexendo by 28.1% in the first quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock valued at $361,000 after buying an additional 16,267 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Crexendo in the first quarter valued at about $431,000. Geode Capital Management LLC lifted its position in Crexendo by 120.1% in the second quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock valued at $1,930,000 after buying an additional 173,530 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Crexendo in the second quarter valued at about $41,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

More Crexendo News

Here are the key news stories impacting Crexendo this week:

• Positive Sentiment: Needham & Company raised its price target on Crexendo to $12.00 and reiterated a Buy rating, reinforcing the bullish view that the shares still have room to run. Article Title
• Positive Sentiment: Crexendo’s latest quarterly results beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of $20.71 million versus $19.63 million expected, supporting the company’s growth and profitability narrative. Article Title
• Positive Sentiment: Management said it will present at upcoming investor conferences, which could increase visibility with institutional investors and give the company another platform to highlight its ESI acquisition and consecutive quarters of GAAP profitability. Article Title
• Neutral Sentiment: Several analyst and commentary pieces focused on Crexendo’s growth momentum and earnings call details, adding context but not changing the near-term catalyst picture by themselves. Article Title
• Negative Sentiment: Top executives, including the CEO, COO, CFO, and CRO, disclosed sizable stock sales over May 4-6. While insider selling does not necessarily change fundamentals, it can create short-term pressure and weigh on investor sentiment. Article Title

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Crexendo in a report on Wednesday. Needham & Company LLC upped their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen lowered shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from 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.