Insider Selling: Crexendo (NASDAQ:CXDO) CRO Sells 10,000 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of Crexendo stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $9.65, for a total transaction of $96,500.00. Following the completion of the transaction, the executive directly owned 104,795 shares of the company’s stock, valued at $1,011,271.75. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total transaction of $1,049,226.30.

Crexendo Stock Performance

Shares of CXDO traded down $0.23 during mid-day trading on Monday, hitting $9.66. 610,530 shares of the company traded hands, compared to its average volume of 417,347. The stock has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $6.79. Crexendo Inc. has a 1 year low of $5.08 and a 1 year high of $9.90. The stock has a market cap of $313.18 million, a price-to-earnings ratio of 64.40 and a beta of 0.93.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data 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 net margin of 6.15% and a return on equity of 13.84%. The firm had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $19.63 million. On average, analysts forecast that Crexendo Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CXDO shares. Wall Street Zen cut shares of Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of 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 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Hedge Funds Weigh In On Crexendo

A number of hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Crexendo in the first quarter worth approximately $155,000. Renaissance Technologies LLC boosted its position in shares of Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock worth $2,139,000 after purchasing an additional 119,037 shares during the period. Arrowstreet Capital Limited Partnership boosted its position 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 worth $2,508,000 after purchasing an additional 85,943 shares during the period. Sei Investments Co. boosted its position in shares of Crexendo by 31.9% in the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock worth $1,492,000 after purchasing an additional 58,518 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Crexendo in the first quarter worth approximately $208,000. 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.