Crexendo Inc. (NASDAQ:CXDO) CFO Ron Vincent Sells 3,000 Shares

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CFO Ron Vincent sold 3,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $6.51, for a total transaction of $19,530.00. Following the sale, the chief financial officer owned 181,746 shares in the company, valued at approximately $1,183,166.46. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, July 7th, Ron Vincent sold 1,000 shares of Crexendo stock. The stock was sold at an average price of $6.50, for a total transaction of $6,500.00.
• On Wednesday, July 2nd, Ron Vincent sold 2,800 shares of Crexendo stock. The shares were sold at an average price of $6.54, for a total transaction of $18,312.00.

Crexendo Stock Performance

Shares of NASDAQ:CXDO traded down $0.25 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 52-week low of $3.16 and a 52-week high of $7.34. The company has a market cap of $174.18 million, a P/E ratio of 75.01 and a beta of 1.15. The company has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $5.54.

Analyst Upgrades and Downgrades

CXDO has been the topic of a number of research reports. D. Boral Capital reaffirmed a "buy" rating and set a $10.00 target price on shares of Crexendo in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Crexendo from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Craig Hallum initiated coverage on shares of Crexendo in a report on Monday, April 7th. They issued a "buy" rating and a $8.00 target price on the stock. Finally, Needham & Company LLC began coverage on shares of Crexendo in a research note on Tuesday, July 1st. They set a "buy" rating and a $8.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Crexendo currently has an average rating of "Buy" and an average price target of $8.38.

Hedge Funds Weigh In On Crexendo

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position 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 purchasing an additional 2,578 shares during the period. Creative Financial Designs Inc. ADV purchased a new position in shares of Crexendo in the fourth quarter worth $44,000. Detalus Advisors LLC purchased a new position in shares of Crexendo in the first quarter worth $49,000. Algert Global LLC acquired a new stake in shares of Crexendo in the first quarter worth $61,000. Finally, Walleye Capital LLC acquired a new stake in shares of Crexendo in the fourth quarter worth $69,000. 9.53% of the stock is currently owned by institutional investors.

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.