Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) COO Sells 10,000 Shares of Stock

Crexendo, Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $6.27, for a total transaction of $62,700.00. Following the sale, the chief operating officer now owns 230,007 shares of the company’s stock, valued at approximately $1,442,143.89. This represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Crexendo Stock Down 6.7 %

CXDO traded down $0.41 during midday trading on Friday, hitting $5.75. 424,689 shares of the company traded hands, compared to its average volume of 153,102. The company’s 50-day moving average is $5.94 and its 200 day moving average is $5.41. The firm has a market capitalization of $160.43 million, a PE ratio of 191.73 and a beta of 1.15. Crexendo, Inc. has a 52 week low of $2.92 and a 52 week high of $7.34.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CXDO shares. D. Boral Capital increased their price target on shares of Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley reiterated a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CXDO. Renaissance Technologies LLC grew its position in Crexendo by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock worth $1,434,000 after purchasing an additional 38,700 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Crexendo by 65.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock worth $1,138,000 after buying an additional 86,162 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after acquiring an additional 21,739 shares during the period. Two Sigma Investments LP lifted its holdings in Crexendo by 36.9% in the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company’s stock valued at $652,000 after acquiring an additional 33,602 shares during the period. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Crexendo in the 4th quarter worth approximately $304,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

About Crexendo

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.