Key Points
- Crexendo CTO David Tzat-Kin Wang sold 25,000 shares on June 12 at an average price of $7.39, totaling $184,750. After the sale, he still held 584,747 shares valued at about $4.32 million.
- Wang also made two other recent sales of 25,000 shares each on June 15 and June 2, bringing the recent insider selling to 75,000 shares across three transactions.
- Crexendo reported solid quarterly results, posting EPS of $0.10 versus expectations of $0.08 and revenue of $20.71 million, while analysts currently rate the stock a “Moderate Buy” with an average price target of $10.40.
Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CTO David Tzat-Kin Wang sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $7.39, for a total transaction of $184,750.00. Following the completion of the transaction, the chief technology officer directly owned 584,747 shares in the company, valued at approximately $4,321,280.33. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
David Tzat-Kin Wang also recently made the following trade(s):
- On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.49, for a total transaction of $187,250.00.
- On Tuesday, June 2nd, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $10.01, for a total transaction of $250,250.00.
Crexendo Stock Performance
Shares of CXDO stock opened at $7.05 on Wednesday. Crexendo Inc. has a 52-week low of $5.18 and a 52-week high of $11.23. The stock has a market cap of $228.56 million, a PE ratio of 47.00 and a beta of 1.08. The firm's 50 day moving average price is $8.03 and its two-hundred day moving average price is $7.11.
Crexendo (NASDAQ:CXDO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (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 firm had revenue of $20.71 million for the quarter, compared to analysts' expectations of $19.63 million. As a group, sell-side analysts predict that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Crexendo
Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Crexendo by 172.6% in the third quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company's stock worth $29,000 after purchasing an additional 2,782 shares during the period. Strive Financial Group LLC acquired a new stake in shares of Crexendo during the fourth quarter worth $31,000. Bank of America Corp DE raised its holdings in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after acquiring an additional 2,578 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Crexendo during the second quarter worth $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Crexendo during the second quarter worth $48,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on CXDO. Needham & Company LLC raised their price objective on shares of Crexendo from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Lake Street Capital reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Crexendo in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Crexendo from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.40.
View Our Latest Stock Analysis on Crexendo
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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