Jon Brinton Sells 20,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 20,000 shares of Crexendo stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.69, for a total value of $213,800.00. Following the transaction, the executive owned 69,795 shares in the company, valued at $746,108.55. This represents a 22.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Jon Brinton also recently made the following trade(s):

• On Friday, May 29th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total value of $99,900.00.
• On Tuesday, May 26th, Jon Brinton sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $9.85, for a total value of $49,250.00.
• On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.65, for a total value of $96,500.00.
• On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The shares were sold at an average price of $9.14, for a total value of $1,049,226.30.

Crexendo Stock Down 4.2%

Crexendo stock traded down $0.44 during trading hours on Tuesday, hitting $10.03. The stock had a trading volume of 1,448,552 shares, compared to its average volume of 668,582. The company has a 50-day moving average of $7.68 and a two-hundred day moving average of $7.00. The company has a market cap of $325.17 million, a PE ratio of 66.87 and a beta of 1.08. Crexendo Inc. has a fifty-two week low of $5.13 and a fifty-two week high of $11.23.

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

Analyst Upgrades and Downgrades

CXDO has been the topic of several analyst reports. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Lake Street Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC boosted their price target 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 given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Institutional Investors Weigh In On Crexendo

A number of large investors have recently bought and sold shares of CXDO. BNP Paribas Financial Markets boosted its position in Crexendo by 172.6% in the 3rd 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 in the 4th quarter valued at $31,000. Bank of America Corp DE boosted its position in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Crexendo in the 2nd quarter valued at $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Crexendo in the 2nd quarter valued at $48,000. 9.53% of the stock is currently owned by institutional investors.

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.