Ron Vincent Sells 29,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 29,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $9.77, for a total value of $283,330.00. Following the transaction, the chief financial officer owned 117,087 shares of the company’s stock, valued at $1,143,939.99. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The stock was sold at an average price of $9.84, for a total transaction of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The shares were sold at an average price of $9.75, for a total transaction of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total transaction of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total transaction 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 transaction of $154,570.46.

Crexendo Trading Up 1.7%

Shares of NASDAQ:CXDO opened at $9.95 on Friday. The company has a market capitalization of $322.58 million, a price-to-earnings ratio of 66.33 and a beta of 0.93. Crexendo Inc. has a 12 month low of $5.08 and a 12 month high of $10.04. The firm’s 50-day moving average is $7.53 and its 200 day moving average is $6.96.

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. The company 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%. As a group, equities analysts forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their target price on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and set a $11.00 target price on shares of Crexendo in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Crexendo presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC lifted its position in shares of Crexendo by 3.3% during the third quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock worth $4,846,000 after purchasing an additional 23,676 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Crexendo by 11.2% in the third quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock valued at $4,562,000 after acquiring an additional 70,791 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after acquiring an additional 85,943 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Crexendo by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock valued at $2,598,000 after acquiring an additional 50,288 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Crexendo by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock valued at $2,346,000 after acquiring an additional 52,200 shares in the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.