Jon Brinton Sells 5,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CRO Jon Brinton sold 5,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.85, for a total value of $49,250.00. Following the completion of the transaction, the executive owned 99,795 shares in the company, valued at approximately $982,980.75. The trade was a 4.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 Price Performance

Shares of CXDO traded up $0.03 during mid-day trading on Wednesday, reaching $9.78. The company’s stock had a trading volume of 452,261 shares, compared to its average volume of 540,442. Crexendo Inc. has a 12-month low of $5.08 and a 12-month high of $10.04. The stock has a market cap of $317.07 million, a PE ratio of 65.20 and a beta of 0.93. The company’s 50 day moving average is $7.47 and its 200 day moving average is $6.94.

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

Wall Street Analyst Weigh In

CXDO has been the topic of a number of research 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 restated a “buy” rating and set a $11.00 price target on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Needham & Company LLC raised their price target on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.40.

Institutional Trading of Crexendo

Several hedge funds have recently modified their holdings of CXDO. BNP Paribas Financial Markets lifted its holdings in shares of 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 period. Strive Financial Group LLC acquired a new stake in shares of Crexendo in the 4th quarter valued at approximately $31,000. Bank of America Corp DE lifted its holdings 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 valued at $32,000 after buying an additional 2,578 shares during the period. JPMorgan Chase & Co. acquired a new position in Crexendo during the second quarter worth $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Crexendo during the second quarter worth $48,000. 9.53% of the stock is owned by institutional investors and hedge funds.

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.