Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) CTO Sells 229,476 Shares of Stock

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 229,476 shares of Crexendo stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total value of $1,262,118.00. Following the sale, the chief technology officer now directly owns 445,995 shares in the company, valued at approximately $2,452,972.50. This trade represents a 33.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Crexendo Trading Up 1.8 %

NASDAQ:CXDO traded up $0.11 during midday trading on Monday, hitting $5.86. 91,097 shares of the stock were exchanged, compared to its average volume of 151,162. The company has a market capitalization of $163.36 million, a price-to-earnings ratio of 195.23 and a beta of 1.15. Crexendo, Inc. has a one year low of $2.92 and a one year high of $7.34. The business has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $5.42.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CXDO. Bank of America Corp DE increased its holdings 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. Creative Financial Designs Inc. ADV bought a new position in shares of Crexendo in the fourth quarter valued at $44,000. Walleye Capital LLC purchased a new position in Crexendo during the 4th quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC purchased a new position in Crexendo during the 4th quarter worth approximately $69,000. Finally, GSA Capital Partners LLP grew its position in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after purchasing an additional 5,139 shares in the last quarter. Institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CXDO has been the topic of a number of recent analyst reports. D. Boral Capital lifted their price target on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley reissued a “buy” rating and set a $7.50 target price (up previously from $6.75) on shares of Crexendo in a report on Wednesday, March 5th.

About Crexendo

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.