Crexendo, Inc. (NASDAQ:CXDO) CEO Sells $60,000.00 in Stock

Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the transaction, the chief executive officer now owns 243,384 shares in the company, valued at $1,460,304. This represents a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Crexendo Trading Up 7.4 %

NASDAQ:CXDO traded up $0.44 during mid-day trading on Wednesday, hitting $6.35. The company’s stock had a trading volume of 375,546 shares, compared to its average volume of 150,117. The company has a market capitalization of $177.17 million, a price-to-earnings ratio of 211.74 and a beta of 1.15. Crexendo, Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.34. The stock has a fifty day moving average of $5.90 and a 200-day moving average of $5.39.

Analyst Ratings Changes

A number of research firms have recently issued reports on CXDO. B. Riley restated a “buy” rating and set a $7.50 price objective (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. D. Boral Capital lifted their price target on shares of Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th.

Institutional Investors Weigh In On Crexendo

Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its stake in Crexendo by 41.2% in the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after buying an additional 5,139 shares in the last quarter. Barclays PLC bought a new position in shares of Crexendo during the third quarter valued at $109,000. Geode Capital Management LLC boosted its stake in shares of Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after purchasing an additional 21,739 shares in the last quarter. ARS Investment Partners LLC bought a new stake in shares of Crexendo in the 4th quarter worth about $243,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Crexendo in the 4th quarter worth about $44,000. 9.53% of the stock is currently owned by institutional investors.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.