Anil Puri Sells 3,400 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) Director Anil Puri sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $9.44, for a total value of $32,096.00. Following the completion of the transaction, the director directly owned 53,114 shares in the company, valued at approximately $501,396.16. The trade was a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Crexendo Trading Down 0.1%

NASDAQ:CXDO opened at $9.60 on Friday. The firm has a market cap of $311.23 million, a P/E ratio of 64.00 and a beta of 0.93. The stock’s 50 day simple moving average is $7.22 and its 200-day simple moving average is $6.86. Crexendo Inc. has a 12-month low of $5.08 and a 12-month high of $9.90.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $20.71 million for 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%. Research analysts forecast that Crexendo Inc. will post 0.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on CXDO shares. Lake Street Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Wall Street Zen lowered Crexendo from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Needham & Company LLC upped their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Crexendo presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CXDO. Bank of America Corp DE grew its holdings in Crexendo by 47.6% in the first quarter. Bank of America Corp DE now owns 78,021 shares of the company’s stock valued at $481,000 after purchasing an additional 25,161 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Crexendo in the first quarter valued at $155,000. Renaissance Technologies LLC grew its holdings in Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after purchasing an additional 119,037 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Crexendo by 26.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock valued at $2,508,000 after purchasing an additional 85,943 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Crexendo by 31.9% in the first quarter. Sei Investments Co. now owns 241,766 shares of the company’s stock valued at $1,492,000 after purchasing an additional 58,518 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.