Crexendo Inc. $CXDO Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in shares of Crexendo Inc. (NASDAQ:CXDO) by 75.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,328 shares of the company’s stock after selling 85,025 shares during the period. NewEdge Advisors LLC’s holdings in Crexendo were worth $169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the period. Strive Financial Group LLC acquired a new stake in Crexendo in the fourth quarter valued at approximately $31,000. Bank of America Corp DE increased its position in shares of Crexendo by 71.7% in the fourth 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 in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Crexendo during the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Crexendo during the 2nd quarter worth approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analysts Set New Price Targets

CXDO has been the topic of a number of recent analyst reports. B. Riley Financial decreased their target price on Crexendo from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Lake Street Capital reissued a “buy” rating and issued a $11.00 price target on shares of Crexendo in a report on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Insider Transactions at Crexendo

In related news, COO Douglas Walter Gaylor sold 5,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $10.35, for a total value of $51,750.00. Following the completion of the transaction, the chief operating officer directly owned 222,816 shares of the company’s stock, valued at approximately $2,306,145.60. This represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Tzat-Kin Wang sold 25,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $7.49, for a total value of $187,250.00. Following the completion of the transaction, the chief technology officer owned 559,747 shares in the company, valued at $4,192,505.03. The trade was a 4.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 275,000 shares of company stock valued at $2,640,200 over the last ninety days. Company insiders own 47.20% of the company’s stock.

Crexendo Price Performance

NASDAQ:CXDO opened at $6.38 on Thursday. The stock has a 50 day moving average of $7.11 and a two-hundred day moving average of $7.20. Crexendo Inc. has a 12 month low of $5.55 and a 12 month high of $11.23. The firm has a market cap of $212.13 million, a P/E ratio of 45.57 and a beta of 1.12. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $24.65 million for the quarter, compared to the consensus estimate of $24.65 million. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. On average, analysts expect that Crexendo Inc. will post 0.34 earnings per share for the current fiscal year.

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.