Ron Vincent Sells 29,000 Shares of Crexendo (NASDAQ:CXDO) Stock

Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent sold 29,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.77, for a total value of $283,330.00. Following the completion of the sale, the chief financial officer owned 117,087 shares of the company’s stock, valued at approximately $1,143,939.99. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 26th, Ron Vincent sold 46,000 shares of Crexendo stock. The shares were sold at an average price of $9.84, for a total value of $452,640.00.
• On Thursday, May 7th, Ron Vincent sold 1,450 shares of Crexendo stock. The shares were sold at an average price of $9.75, for a total value of $14,137.50.
• On Wednesday, May 6th, Ron Vincent sold 33,550 shares of Crexendo stock. The shares were sold at an average price of $9.36, for a total value of $314,028.00.
• On Tuesday, May 5th, Ron Vincent sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.63, for a total value of $86,300.00.
• On Monday, May 4th, Ron Vincent sold 18,989 shares of Crexendo stock. The shares were sold at an average price of $8.14, for a total value of $154,570.46.

Crexendo Price Performance

Shares of NASDAQ:CXDO traded up $0.03 during midday 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 fifty-two week low of $5.08 and a fifty-two week high of $10.04. The company has a market capitalization of $317.07 million, a P/E ratio of 65.20 and a beta of 0.93. The business’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $6.94.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share 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 company had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. On average, analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Crexendo

Several hedge funds have recently added to or reduced their stakes in CXDO. BNP Paribas Financial Markets boosted its holdings in Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock valued at $29,000 after acquiring an additional 2,782 shares during the last quarter. Strive Financial Group LLC bought a new position in Crexendo during the fourth quarter worth about $31,000. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Crexendo during the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Crexendo during the second quarter worth about $48,000. Institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CXDO shares. Needham & Company LLC raised their price target on Crexendo from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.40.

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.