Insider Selling: Crexendo (NASDAQ:CXDO) CFO Sells $314,028.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 33,550 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $9.36, for a total value of $314,028.00. Following the sale, the chief financial officer directly owned 118,537 shares of the company’s stock, valued at $1,109,506.32. This represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ron Vincent also recently made the following trade(s):

• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Stock Performance

Shares of NASDAQ:CXDO opened at $9.36 on Friday. Crexendo Inc. has a twelve month low of $5.08 and a twelve month high of $9.84. The firm has a market cap of $303.45 million, a PE ratio of 62.40 and a beta of 0.93. The business has a fifty day moving average of $6.60 and a 200-day moving average of $6.63.

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 the consensus estimate of $0.08 by $0.02. The business 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%. On average, analysts anticipate that Crexendo Inc. will post 0.27 EPS for the current fiscal year.

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

Analysts Set New Price Targets

CXDO has been the topic of several research reports. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Needham & Company LLC lifted their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen cut Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Crexendo in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.40.

Hedge Funds Weigh In On Crexendo

Hedge funds have recently added to or reduced their stakes in the stock. Pembroke Management LTD grew its holdings in Crexendo by 209.3% during the third quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock valued at $1,270,000 after purchasing an additional 132,201 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Crexendo in the 3rd quarter valued at $230,000. Potomac Capital Management Inc. bought a new stake in shares of Crexendo in the 4th quarter valued at $985,000. Globeflex Capital L P raised its stake in Crexendo by 593.3% during the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company’s stock worth $838,000 after buying an additional 110,795 shares during the period. Finally, Prospera Financial Services Inc lifted its holdings in Crexendo by 104.8% during the fourth quarter. Prospera Financial Services Inc now owns 58,920 shares of the company’s stock worth $381,000 after acquiring an additional 30,145 shares in the last quarter. Institutional investors and hedge funds 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.