Crexendo (NASDAQ:CXDO) Coverage Initiated at Craig Hallum

Craig Hallum began coverage on shares of Crexendo (NASDAQ:CXDO) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $8.00 price target on the stock.

CXDO has been the subject of several other reports. B. Riley restated a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a report on Wednesday, March 5th. D. Boral Capital upped their price target on shares of Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Crexendo Trading Up 13.4 %

Shares of CXDO opened at $4.83 on Monday. The firm has a market capitalization of $134.76 million, a P/E ratio of 161.05 and a beta of 1.33. The firm’s 50-day moving average is $5.76 and its two-hundred day moving average is $5.46. Crexendo has a twelve month low of $2.92 and a twelve month high of $7.34.

Insider Buying and Selling at Crexendo

In other news, CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the sale, the chief executive officer now owns 243,384 shares of the company’s stock, valued at approximately $1,460,304. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00. Following the transaction, the chief technology officer now directly owns 445,995 shares in the company, valued at approximately $2,452,972.50. This represents a 33.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,476 shares of company stock valued at $1,384,818 over the last three months. 56.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crexendo

Several large investors have recently added to or reduced their stakes in CXDO. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 2,578 shares during the period. Creative Financial Designs Inc. ADV bought a new position in Crexendo in the fourth quarter worth about $44,000. Schonfeld Strategic Advisors LLC acquired a new position in Crexendo in the fourth quarter valued at approximately $69,000. Walleye Capital LLC bought a new position in shares of Crexendo during the fourth quarter valued at approximately $69,000. Finally, Northern Trust Corp raised its position in shares of Crexendo by 44.8% during the 4th quarter. Northern Trust Corp now owns 19,680 shares of the company’s stock worth $103,000 after purchasing an additional 6,085 shares during the period. 9.53% of the stock is currently owned by institutional investors.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.