Douglas Walter Gaylor Sells 10,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $9.52, for a total value of $95,200.00. Following the completion of the sale, the chief operating officer owned 221,413 shares of the company’s stock, valued at $2,107,851.76. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Douglas Walter Gaylor also recently made the following trade(s):

• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.66, for a total transaction of $86,600.00.

Crexendo Stock Performance

Shares of CXDO stock opened at $9.72 on Wednesday. The stock has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $6.81. The firm has a market capitalization of $315.12 million, a PE ratio of 64.80 and a beta of 0.93. Crexendo Inc. has a 52-week low of $5.08 and a 52-week high of $9.90.

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

Institutional Investors Weigh In On Crexendo

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after acquiring an additional 2,782 shares in the last quarter. Strive Financial Group LLC bought a new stake in shares of Crexendo in the 4th quarter valued at about $31,000. Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 2,578 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Crexendo during the second quarter valued at approximately $48,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CXDO has been the subject of several analyst reports. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Lake Street Capital restated a “buy” rating and set a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Crexendo from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Needham & Company LLC boosted their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.