Douglas Walter Gaylor Sells 20,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $9.99, for a total value of $199,800.00. Following the completion of the sale, the chief operating officer directly owned 227,816 shares in the company, valued at approximately $2,275,881.84. The trade was a 8.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, May 29th, Douglas Walter Gaylor sold 55,000 shares of Crexendo stock. The shares were sold at an average price of $10.00, for a total value of $550,000.00.
• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $10.35, for a total value of $51,750.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.52, for a total value of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total value of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total value of $86,600.00.

Crexendo Stock Down 8.5%

NASDAQ:CXDO opened at $9.18 on Thursday. The business’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.04. Crexendo Inc. has a twelve month low of $5.13 and a twelve month high of $11.23. The stock has a market cap of $297.62 million, a P/E ratio of 61.20 and a beta of 1.08.

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

Analysts Set New Price Targets

Several research firms have weighed in on CXDO. Needham & Company LLC raised their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reissued a “buy” rating and set a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Crexendo currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.40.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently modified their holdings of the company. D.A. Davidson & CO. raised its holdings in shares of Crexendo by 3.5% during the 1st quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after buying an additional 1,311 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Crexendo by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after purchasing an additional 2,260 shares during the period. Bank of America Corp DE increased its stake in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after purchasing an additional 2,578 shares during the period. BNP Paribas Financial Markets increased its stake in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the period. Finally, Independent Advisor Alliance increased its stake in Crexendo by 13.2% in the 3rd quarter. Independent Advisor Alliance now owns 24,725 shares of the company’s stock worth $161,000 after purchasing an additional 2,890 shares during the period. 9.53% of the stock is owned by hedge funds and other institutional investors.

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.