Jon Brinton Sells 10,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $9.99, for a total value of $99,900.00. Following the completion of the sale, the executive directly owned 89,795 shares of the company’s stock, valued at $897,052.05. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, June 1st, Jon Brinton sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $10.69, for a total value of $213,800.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $9.85, for a total value of $49,250.00.
• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total value of $96,500.00.
• 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 value of $1,049,226.30.

Crexendo Price Performance

NASDAQ:CXDO opened at $9.18 on Thursday. The firm has a market capitalization of $297.62 million, a price-to-earnings ratio of 61.20 and a beta of 1.08. Crexendo Inc. has a 1 year low of $5.13 and a 1 year high of $11.23. The business has a 50 day simple moving average of $7.81 and a 200-day simple moving average of $7.04.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. As a group, analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently bought and sold shares of CXDO. BNP Paribas Financial Markets raised its position in Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after purchasing an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new stake in Crexendo during the 4th quarter valued at $31,000. Bank of America Corp DE raised its position in Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Crexendo during the 2nd quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Crexendo during the 2nd quarter valued at $48,000. 9.53% of the stock is 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.