Crexendo (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 25,000 Shares

Crexendo Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 25,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. Following the transaction, the chief technology officer directly owned 534,747 shares in the company, valued at approximately $3,475,855.50. This represents a 4.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.49, for a total value of $187,250.00.
• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total value of $184,750.00.

Crexendo Stock Performance

NASDAQ CXDO opened at $5.91 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $196.51 million, a PE ratio of 42.21 and a beta of 1.12. The business’s 50-day moving average price is $7.04 and its 200 day moving average price is $7.20. Crexendo Inc. has a twelve month low of $5.55 and a twelve month high of $11.23.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. The business had revenue of $24.65 million for the quarter, compared to analyst estimates of $24.65 million. On average, research analysts predict that Crexendo Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CXDO. Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. Lake Street Capital reissued a “buy” rating and set a $11.00 price objective on shares of Crexendo in a report on Wednesday, May 6th. Finally, B. Riley Financial dropped their target price on shares of Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Institutional Trading of Crexendo

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Crexendo by 172.6% during the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after buying an additional 2,782 shares during the last quarter. Strive Financial Group LLC bought a new position in Crexendo during the fourth quarter valued at about $31,000. Bank of America Corp DE boosted its position in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after purchasing an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Crexendo in the second quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Crexendo in the second quarter valued at $48,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Company Profile

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.