152,300 Shares in Crexendo Inc. $CXDO Bought by Potomac Capital Management Inc.

Key Points

• Potomac Capital Management initiated a new position in Crexendo, buying 152,300 shares worth about $985,000 in the fourth quarter. The stake represented roughly 0.50% of the company.
• Analysts remain generally upbeat on CXDO: Needham raised its target to $12 and Lake Street reiterated a buy rating, giving the stock a consensus rating of Moderate Buy with a target of $10.40.
• Crexendo reported quarterly results that beat expectations, with EPS of $0.10 versus the $0.08 estimate and revenue of $20.71 million versus $19.63 million expected, but the shares were trading down about 11.3% at the time of the report.

Potomac Capital Management Inc. bought a new position in shares of Crexendo Inc. (NASDAQ:CXDO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 152,300 shares of the company's stock, valued at approximately $985,000. Potomac Capital Management Inc. owned approximately 0.50% of Crexendo as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Globeflex Capital L P boosted its stake in Crexendo by 593.3% during the fourth quarter. Globeflex Capital L P now owns 129,470 shares of the company's stock worth $838,000 after acquiring an additional 110,795 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Crexendo by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 94,318 shares of the company's stock worth $610,000 after acquiring an additional 2,260 shares in the last quarter. Geode Capital Management LLC boosted its stake in Crexendo by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 401,356 shares of the company's stock worth $2,598,000 after acquiring an additional 50,288 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Crexendo by 104.8% during the fourth quarter. Prospera Financial Services Inc now owns 58,920 shares of the company's stock worth $381,000 after acquiring an additional 30,145 shares in the last quarter. Finally, Legato Capital Management LLC boosted its stake in Crexendo by 9.6% during the fourth quarter. Legato Capital Management LLC now owns 235,806 shares of the company's stock worth $1,526,000 after acquiring an additional 20,599 shares in the last quarter. 9.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Needham & Company LLC increased 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 raised 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 reissued a "buy" rating and set a $11.00 target price on shares of Crexendo in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.

Crexendo Trading Down 11.3%

CXDO opened at $6.82 on Wednesday. The company's fifty day moving average price is $7.93 and its two-hundred day moving average price is $7.08. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23. The company has a market cap of $221.10 million, a price-to-earnings ratio of 45.47 and a beta of 1.08.

Crexendo (NASDAQ:CXDO - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $19.63 million. As a group, equities analysts forecast that Crexendo Inc. will post 0.36 earnings per share for the current fiscal year.

Insider Activity

In other Crexendo news, CFO Ron Vincent sold 90,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.03, for a total transaction of $902,700.00. Following the transaction, the chief financial officer owned 117,490 shares in the company, valued at approximately $1,178,424.70. This represents a 43.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey G. Korn sold 39,500 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.95, for a total transaction of $393,025.00. Following the transaction, the chief executive officer owned 209,026 shares in the company, valued at approximately $2,079,808.70. The trade was a 15.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 642,184 shares of company stock valued at $6,168,573. 47.20% of the stock is currently owned by insiders.

Crexendo Profile

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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