Key Points
- Crexendo CFO Ron Vincent sold 29,000 shares on May 22 at an average price of $9.77, totaling about $283,330. After the sale, he still owned 117,087 shares, and the transaction reduced his stake by 19.85%.
- Vincent has continued selling shares in multiple recent transactions, including 46,000 shares on May 26 and several other sales earlier in the month, signaling notable insider selling activity.
- Crexendo beat quarterly earnings expectations, reporting $0.10 EPS versus the $0.08 estimate and revenue of $20.71 million versus $19.63 million expected. Analysts currently view the stock as a Moderate Buy with a consensus target price of $10.40.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CRO Jon Brinton sold 5,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.85, for a total value of $49,250.00. Following the completion of the sale, the executive directly owned 99,795 shares of the company's stock, valued at approximately $982,980.75. This represents a 4.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Jon Brinton also recently made the following trade(s):
- On Thursday, May 14th, Jon Brinton sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.65, for a total value of $96,500.00.
- On Wednesday, May 6th, Jon Brinton sold 114,795 shares of Crexendo stock. The stock was sold at an average price of $9.14, for a total value of $1,049,226.30.
Crexendo Stock Performance
Shares of NASDAQ CXDO opened at $9.78 on Thursday. The company has a market cap of $317.07 million, a PE ratio of 65.20 and a beta of 0.93. The business has a 50-day simple moving average of $7.47 and a two-hundred day simple moving average of $6.94. Crexendo Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $10.04.
Crexendo (NASDAQ:CXDO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $20.71 million during the quarter, compared to the consensus estimate of $19.63 million. Crexendo had a return on equity of 13.84% and a net margin of 6.15%. On average, sell-side analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
CXDO has been the subject of a number of research reports. Weiss Ratings raised Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Needham & Company LLC increased their price target on shares of Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Lake Street Capital reissued a "buy" rating and set a $11.00 price target on shares of Crexendo in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Crexendo presently has a consensus rating of "Moderate Buy" and an average target price of $10.40.
Read Our Latest Research Report on Crexendo
Institutional Trading of Crexendo
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC acquired a new stake in Crexendo during the first quarter valued at $139,000. MidFirst Bank purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $1,277,000. Potomac Capital Management Inc. acquired a new position in shares of Crexendo during the 4th quarter worth approximately $985,000. Globeflex Capital L P raised its stake in shares of Crexendo by 593.3% during the 4th quarter. Globeflex Capital L P now owns 129,470 shares of the company's stock worth $838,000 after buying an additional 110,795 shares during the period. Finally, Prospera Financial Services Inc raised its stake in shares of Crexendo by 104.8% during the 4th quarter. Prospera Financial Services Inc now owns 58,920 shares of the company's stock worth $381,000 after buying an additional 30,145 shares during the period. Institutional investors and hedge funds own 9.53% of the company's stock.
Crexendo Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
