Key Points
- Crexendo COO Douglas Walter Gaylor sold 5,000 shares on June 2 at an average price of $10.35, totaling $51,750. After the sale, he still owned 222,816 shares worth about $2.31 million.
- The filing comes amid a series of recent insider sales by Gaylor, including transactions on May 29, June 1, May 14, May 6, and May 5, indicating a broader reduction in his Crexendo holdings.
- Crexendo shares were trading around $10.03 after rising on strong earnings, with the company recently beating analyst estimates on both EPS and revenue. Wall Street currently rates the stock a Moderate Buy with an average target price of $10.40.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) COO Douglas Walter Gaylor sold 5,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were 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 in the company, valued at approximately $2,306,145.60. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Douglas Walter Gaylor also recently made the following trade(s):
- On Friday, May 29th, Douglas Walter Gaylor sold 55,000 shares of Crexendo stock. The shares were sold at an average price of $10.00, for a total value of $550,000.00.
- On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.99, for a total value of $199,800.00.
- On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $9.52, for a total value of $95,200.00.
- On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The shares were sold at an average price of $9.37, for a total value of $187,400.00.
- On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total value of $86,600.00.
Crexendo Stock Down 4.2%
Shares of Crexendo stock opened at $10.03 on Wednesday. Crexendo Inc. has a 52 week low of $5.13 and a 52 week high of $11.23. The business's fifty day simple moving average is $7.68 and its 200-day simple moving average is $7.00. The firm has a market cap of $325.17 million, a PE ratio of 66.87 and a beta of 1.08.
Crexendo (NASDAQ:CXDO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The business had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. As a group, equities analysts expect that Crexendo Inc. will post 0.36 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Crexendo by 47.6% in the 1st quarter. Bank of America Corp DE now owns 78,021 shares of the company's stock valued at $481,000 after acquiring an additional 25,161 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Crexendo in the 1st quarter valued at about $155,000. Renaissance Technologies LLC increased its holdings in shares of Crexendo by 52.3% in the 1st quarter. Renaissance Technologies LLC now owns 346,737 shares of the company's stock valued at $2,139,000 after acquiring an additional 119,037 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Crexendo by 26.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company's stock valued at $2,508,000 after acquiring an additional 85,943 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Crexendo by 31.9% in the 1st quarter. Sei Investments Co. now owns 241,766 shares of the company's stock valued at $1,492,000 after acquiring an additional 58,518 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CXDO. Weiss Ratings raised Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Needham & Company LLC increased their target price on Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reissued a "buy" rating and set a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Crexendo presently has an average rating of "Moderate Buy" and an average target price of $10.40.
Get Our Latest Stock Analysis on CXDO
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.
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