Key Points
- Crexendo CTO David Tzat-Kin Wang sold 25,000 shares on June 2 for about $250,250 at an average price of $10.01, reducing his stake by 3.97% to 604,949 shares.
- The company recently reported better-than-expected quarterly results, posting EPS of $0.10 versus the $0.08 consensus and revenue of $20.71 million versus $19.63 million expected.
- Analysts remain generally positive on CXDO, with a consensus rating of Moderate Buy and a target price of $10.40 after recent upward revisions from firms including Needham and Lake Street Capital.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CTO David Tzat-Kin Wang sold 25,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00. Following the sale, the chief technology officer owned 604,949 shares of the company's stock, valued at $6,055,539.49. This trade represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
David Tzat-Kin Wang also recently made the following trade(s):
- On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The shares were sold at an average price of $7.00, for a total transaction of $143,374.00.
Crexendo Trading Down 2.7%
Shares of CXDO stock opened at $8.93 on Friday. The firm has a market capitalization of $289.47 million, a PE ratio of 59.53 and a beta of 1.08. The firm has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $7.05. Crexendo Inc. has a 12 month low of $5.13 and a 12 month high of $11.23.
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 analysts' consensus estimates of $0.08 by $0.02. Crexendo had a net margin of 6.15% and a return on equity of 13.84%. The business had revenue of $20.71 million during the quarter, compared to analyst estimates of $19.63 million. On average, equities analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
CXDO has been the subject of several recent analyst reports. Needham & Company LLC upped their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reiterated a "buy" rating and issued 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 given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.
Check Out Our Latest Research Report on CXDO
Hedge Funds Weigh In On Crexendo
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in shares of 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 buying an additional 2,782 shares during the last quarter. Strive Financial Group LLC purchased a new position in shares of Crexendo in the 4th quarter worth about $31,000. Bank of America Corp DE boosted its holdings in shares of Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Crexendo in the 2nd quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Crexendo in the 2nd quarter worth about $48,000. 9.53% of the stock is owned by hedge funds and other institutional investors.
About Crexendo
(
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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