MidFirst Bank Purchases New Shares in Crexendo Inc. $CXDO

MidFirst Bank acquired a new stake in Crexendo Inc. (NASDAQ:CXDO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 197,346 shares of the company’s stock, valued at approximately $1,474,000. MidFirst Bank owned about 0.59% of Crexendo as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. increased its stake in shares of Crexendo by 3.5% in the first 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. grew its holdings in Crexendo by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company’s stock worth $610,000 after acquiring an additional 2,260 shares during the last quarter. Bank of America Corp DE increased its position in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. BNP Paribas Financial Markets increased its position in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Occudo Quantitative Strategies LP raised its stake in shares of Crexendo by 20.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 18,016 shares of the company’s stock worth $117,000 after acquiring an additional 3,056 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

Insider Buying and Selling at Crexendo

In other Crexendo news, CTO David Tzat-Kin Wang sold 25,000 shares of Crexendo stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00. Following the completion of the sale, the chief technology officer owned 604,949 shares of the company’s stock, valued at approximately $6,055,539.49. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey G. Korn sold 39,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $9.95, for a total transaction of $393,025.00. Following the sale, the chief executive officer owned 209,026 shares of the company’s stock, valued at $2,079,808.70. The trade was a 15.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 430,000 shares of company stock valued at $4,171,315. 47.20% of the stock is currently owned by corporate insiders.

Crexendo Stock Performance

Shares of NASDAQ:CXDO opened at $6.55 on Tuesday. The stock has a market capitalization of $217.79 million, a P/E ratio of 46.79 and a beta of 1.12. Crexendo Inc. has a 1-year low of $5.55 and a 1-year high of $11.23. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $7.22 and a two-hundred day moving average price of $7.22.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. The company had revenue of $24.65 million for the quarter, compared to the consensus estimate of $24.65 million. Equities analysts predict that Crexendo Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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. Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. B. Riley Financial dropped their price objective on shares of Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. Three 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.com, Crexendo has an average rating of “Moderate Buy” and an average price target of $10.50.

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.