David Tzat-Kin Wang Sells 25,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $6.50, for a total value of $162,500.00. Following the completion of the sale, the chief technology officer owned 534,747 shares of the company’s stock, valued at $3,475,855.50. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The stock was sold at an average price of $7.49, for a total value of $187,250.00.
• 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.

Crexendo Trading Up 0.3%

Shares of CXDO stock opened at $5.93 on Thursday. The stock has a market cap of $197.17 million, a price-to-earnings ratio of 42.36 and a beta of 1.11. The stock has a 50-day moving average of $7.02 and a 200-day moving average of $7.20. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06. Crexendo Inc. has a 1-year low of $5.55 and a 1-year high of $11.23.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $24.65 million for the quarter, compared to analyst estimates of $24.65 million. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. On average, equities research analysts forecast that Crexendo Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

CXDO has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. Lake Street Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. B. Riley Financial cut their target price 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, Needham & Company LLC lifted their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Institutional Trading of Crexendo

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 2,782 shares during the period. Strive Financial Group LLC purchased a new stake in shares of Crexendo in the fourth quarter worth $31,000. Bank of America Corp DE boosted its stake in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the period. JPMorgan Chase & Co. purchased a new position in Crexendo during the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Crexendo during the second quarter worth about $48,000. 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.