Ron Vincent Sells 1,450 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 1,450 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $9.75, for a total transaction of $14,137.50. Following the completion of the sale, the chief financial officer directly owned 117,087 shares of the company’s stock, valued at $1,141,598.25. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ron Vincent also recently made the following trade(s):

• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The stock was sold at an average price of $9.36, for a total transaction of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $8.63, for a total transaction of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The stock was sold at an average price of $8.14, for a total transaction of $154,570.46.

Crexendo Stock Performance

CXDO opened at $9.16 on Wednesday. Crexendo Inc. has a 1-year low of $5.08 and a 1-year high of $9.84. The company has a 50-day moving average of $6.81 and a 200-day moving average of $6.70. The company has a market capitalization of $296.97 million, a P/E ratio of 61.07 and a beta of 0.93.

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. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. As a group, sell-side analysts expect that Crexendo Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CXDO. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Lake Street Capital reaffirmed a “buy” rating and issued 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 report on Friday, January 23rd. Finally, Needham & Company LLC lifted their price target on shares of Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Crexendo currently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pembroke Management LTD boosted its stake in Crexendo by 209.3% during the 3rd quarter. Pembroke Management LTD now owns 195,371 shares of the company’s stock valued at $1,270,000 after purchasing an additional 132,201 shares during the period. D.A. Davidson & CO. boosted its stake in Crexendo by 3.5% during the 1st quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after purchasing an additional 1,311 shares during the period. Diversify Wealth Management LLC acquired a new position in Crexendo during the 1st quarter valued at about $139,000. MidFirst Bank acquired a new position in Crexendo during the 4th quarter valued at about $1,277,000. Finally, Potomac Capital Management Inc. acquired a new position in Crexendo during the 4th quarter valued at about $985,000. 9.53% of the stock is owned by institutional investors and hedge funds.

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.