Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) CTO Sells 392,610 Shares of Stock

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) CTO David Tzat-Kin Wang sold 392,610 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $4.90, for a total transaction of $1,923,789.00. Following the transaction, the chief technology officer now owns 445,995 shares in the company, valued at approximately $2,185,375.50. The trade was a 46.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

David Tzat-Kin Wang also recently made the following trade(s):

• On Thursday, March 13th, David Tzat-Kin Wang sold 229,476 shares of Crexendo stock. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00.

Crexendo Stock Performance

CXDO stock traded up $0.01 during trading on Friday, reaching $5.36. The company had a trading volume of 147,796 shares, compared to its average volume of 161,624. The firm has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $5.43. The company has a market cap of $155.61 million, a price-to-earnings ratio of 178.73 and a beta of 1.09. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34.

Institutional Trading of Crexendo

A number of institutional investors have recently bought and sold shares of CXDO. Acadian Asset Management LLC boosted its stake in Crexendo by 384.1% in the 1st quarter. Acadian Asset Management LLC now owns 337,787 shares of the company's stock worth $1,643,000 after purchasing an additional 268,004 shares in the last quarter. Perkins Capital Management Inc. raised its position in Crexendo by 241.2% during the 1st quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company's stock worth $831,000 after buying an additional 120,600 shares during the last quarter. Informed Momentum Co LLC acquired a new stake in Crexendo during the 1st quarter valued at approximately $551,000. Goldman Sachs Group Inc. acquired a new stake in Crexendo during the 1st quarter valued at approximately $431,000. Finally, Dimensional Fund Advisors LP lifted its stake in Crexendo by 65.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company's stock valued at $1,138,000 after acquiring an additional 86,162 shares during the period. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CXDO shares. Craig Hallum started coverage on shares of Crexendo in a report on Monday, April 7th. They issued a "buy" rating and a $8.00 price target on the stock. B. Riley restated a "buy" rating and issued a $7.50 price target (up from $6.75) on shares of Crexendo in a report on Wednesday, March 5th. Finally, D. Boral Capital restated a "buy" rating and issued a $10.00 price target on shares of Crexendo in a report on Wednesday, May 7th.

Crexendo Company Profile

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.