Globeflex Capital L P Buys New Position in Crexendo Inc. $CXDO

Globeflex Capital L P bought a new stake in shares of Crexendo Inc. (NASDAQ:CXDO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 129,470 shares of the company’s stock, valued at approximately $967,000. Globeflex Capital L P owned 0.39% of Crexendo as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of 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 last quarter. Strive Financial Group LLC bought a new position in Crexendo during the fourth quarter worth $31,000. Bank of America Corp DE raised 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 worth $32,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Crexendo in the second quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Crexendo in the second quarter valued at $48,000. Institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CXDO shares. Lake Street Capital reiterated a “buy” rating and set a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. B. Riley Financial dropped their price objective on Crexendo from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Needham & Company LLC upped their target price on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crexendo in a research note on Monday, August 3rd. 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 company presently has an average rating of “Moderate Buy” and an average target price of $10.50.

Insider Activity

In other news, CRO Jon Brinton sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.69, for a total transaction of $213,800.00. Following the transaction, the executive directly owned 69,795 shares of the company’s stock, valued at $746,108.55. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey G. Korn sold 27,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.94, for a total value of $268,380.00. Following the completion of the transaction, the chief executive officer owned 209,026 shares in the company, valued at approximately $2,077,718.44. This represents a 11.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 310,500 shares of company stock valued at $2,993,070. Corporate insiders own 47.20% of the company’s stock.

Crexendo Trading Down 1.9%

CXDO opened at $6.27 on Tuesday. The company has a fifty day moving average price of $7.14 and a two-hundred day moving average price of $7.20. Crexendo Inc. has a 1-year low of $5.55 and a 1-year high of $11.23. The company has a market cap of $208.48 million, a P/E ratio of 44.79 and a beta of 1.12. 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 (NASDAQ:CXDO) last issued its earnings results on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $24.65 million during the quarter, compared to the consensus estimate of $24.65 million. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. Analysts predict that Crexendo Inc. will post 0.34 EPS for the current fiscal year.

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.