Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent Sells 2,800 Shares

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CFO Ron Vincent sold 2,800 shares of Crexendo stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $6.54, for a total transaction of $18,312.00. Following the sale, the chief financial officer owned 184,746 shares of the company's stock, valued at approximately $1,208,238.84. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ron Vincent also recently made the following trade(s):

• On Monday, July 7th, Ron Vincent sold 1,000 shares of Crexendo stock. The shares were sold at an average price of $6.50, for a total transaction of $6,500.00.
• On Thursday, July 3rd, Ron Vincent sold 3,000 shares of Crexendo stock. The shares were sold at an average price of $6.51, for a total transaction of $19,530.00.

Crexendo Stock Performance

NASDAQ CXDO traded down $0.25 during trading hours on Thursday, reaching $6.00. The company's stock had a trading volume of 137,405 shares, compared to its average volume of 176,512. Crexendo Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $7.34. The stock has a market cap of $174.18 million, a PE ratio of 75.01 and a beta of 1.15. The company's 50-day moving average is $5.65 and its two-hundred day moving average is $5.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CXDO. D. Boral Capital restated a "buy" rating and issued a $10.00 price objective on shares of Crexendo in a report on Wednesday, May 7th. Craig Hallum initiated coverage on shares of Crexendo in a research report on Monday, April 7th. They issued a "buy" rating and a $8.00 price target for the company. Wall Street Zen cut shares of Crexendo from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Needham & Company LLC assumed coverage on shares of Crexendo in a report on Tuesday, July 1st. They issued a "buy" rating and a $8.00 price target for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $8.38.

Institutional Investors Weigh In On Crexendo

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after purchasing an additional 2,578 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new position in Crexendo in the fourth quarter valued at approximately $44,000. Detalus Advisors LLC purchased a new position in Crexendo in the first quarter valued at approximately $49,000. Algert Global LLC purchased a new stake in shares of Crexendo during the first quarter valued at approximately $61,000. Finally, Walleye Capital LLC purchased a new stake in shares of Crexendo during the fourth quarter valued at approximately $69,000. 9.53% of the stock is owned by institutional investors and hedge funds.

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.