Crexendo (NASDAQ:CXDO) CTO Sells $187,250.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $7.49, for a total value of $187,250.00. Following the transaction, the chief technology officer owned 559,747 shares of the company’s stock, valued at approximately $4,192,505.03. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

David Tzat-Kin Wang also recently made the following trade(s):

• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total value of $184,750.00.
• On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total value of $250,250.00.

Crexendo Price Performance

Shares of Crexendo stock traded down $0.43 during trading on Tuesday, reaching $7.05. 573,108 shares of the stock traded hands, compared to its average volume of 343,450. The company has a market capitalization of $228.56 million, a price-to-earnings ratio of 47.00 and a beta of 1.08. The business has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $7.10. Crexendo Inc. has a 52-week low of $5.18 and a 52-week high of $11.23.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm 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%. On average, research analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CXDO. 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 report on Wednesday, May 6th. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 price target on shares of Crexendo in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Potomac Capital Management Inc. bought a new stake in Crexendo in the fourth quarter worth about $985,000. Globeflex Capital L P raised its stake in Crexendo by 593.3% in the fourth 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 in the last quarter. Walleye Capital LLC bought a new position in Crexendo in the first quarter worth approximately $208,000. D.A. Davidson & CO. raised its stake in Crexendo by 3.5% in the first quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock worth $237,000 after buying an additional 1,311 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in Crexendo in the first quarter worth approximately $139,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

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.