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 company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total value of $250,250.00. Following the completion of the transaction, the chief technology officer directly owned 604,949 shares of the company’s stock, valued at approximately $6,055,539.49. This trade represents a 3.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The shares were sold at an average price of $7.00, for a total value of $143,374.00.

Crexendo Stock Down 15.2%

Crexendo stock opened at $7.57 on Friday. The business has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $7.06. The stock has a market cap of $245.42 million, a price-to-earnings ratio of 50.47 and a beta of 1.08. Crexendo Inc. has a 12 month low of $5.13 and a 12 month high of $11.23.

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

Analysts Set New Price Targets

CXDO has been the topic of several analyst reports. Lake Street Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC upped 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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Crexendo presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Institutional Investors Weigh In On Crexendo

A number of large investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC grew its position in Crexendo by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 745,504 shares of the company’s stock worth $4,846,000 after acquiring an additional 23,676 shares during the last quarter. Vanguard Group Inc. grew its position in Crexendo by 11.2% during the 3rd quarter. Vanguard Group Inc. now owns 701,898 shares of the company’s stock worth $4,562,000 after acquiring an additional 70,791 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after acquiring an additional 85,943 shares during the last quarter. Geode Capital Management LLC grew its position in Crexendo by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 401,356 shares of the company’s stock worth $2,598,000 after acquiring an additional 50,288 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Crexendo by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock worth $2,346,000 after acquiring an additional 52,200 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors.

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.