Crexendo Inc. $CXDO Holdings Raised by Globeflex Capital L P

Globeflex Capital L P increased its holdings in Crexendo Inc. (NASDAQ:CXDO) by 593.3% in the 4th quarter, Holdings Channel reports. The fund owned 129,470 shares of the company’s stock after purchasing an additional 110,795 shares during the period. Globeflex Capital L P’s holdings in Crexendo were worth $838,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CXDO. Bank of America Corp DE lifted its stake in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after acquiring an additional 2,578 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Crexendo by 28.1% in the 1st quarter. NewEdge Advisors LLC now owns 74,125 shares of the company’s stock worth $361,000 after acquiring an additional 16,267 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Crexendo in the 1st quarter worth about $431,000. Geode Capital Management LLC lifted its stake in Crexendo by 120.1% in the 2nd quarter. Geode Capital Management LLC now owns 318,001 shares of the company’s stock worth $1,930,000 after acquiring an additional 173,530 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Crexendo in the 2nd quarter worth about $41,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

Crexendo Price Performance

Shares of CXDO stock opened at $8.93 on Friday. Crexendo Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $11.23. The stock’s 50-day moving average is $7.86 and its two-hundred day moving average is $7.05. The firm has a market cap of $289.51 million, a P/E ratio of 59.53 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. As a group, research analysts expect that Crexendo Inc. will post 0.36 EPS for the current year.

Insider Buying and Selling

In other Crexendo news, CFO Ron Vincent sold 90,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $10.03, for a total value of $902,700.00. Following the transaction, the chief financial officer directly owned 117,490 shares of the company’s stock, valued at $1,178,424.70. This represents a 43.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jon Brinton sold 114,795 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.14, for a total value of $1,049,226.30. Following the completion of the transaction, the executive directly owned 114,795 shares in the company, valued at approximately $1,049,226.30. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 662,666 shares of company stock worth $6,311,947. Insiders own 47.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Lake Street Capital reissued a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Needham & Company LLC increased their price objective on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.40.

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.