Informed Momentum Co LLC Invests $551,000 in Crexendo Inc. (NASDAQ:CXDO)

Key Points

• Informed Momentum Co LLC invested approximately $551,000 to acquire 113,111 shares of Crexendo Inc. (NASDAQ:CXDO), representing around 0.39% of the company.
• Recent changes in institutional ownership include Bard Associates Inc. increasing its position in Crexendo by 13.3% and Perkins Capital Management Inc. raising its position by a substantial 241.2%.
• Analysts have a consensus rating of "Buy" for Crexendo, with an average price target of $8.60, following recent upgrades in target prices from various research firms.

Informed Momentum Co LLC acquired a new position in Crexendo Inc. (NASDAQ:CXDO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 113,111 shares of the company's stock, valued at approximately $551,000. Informed Momentum Co LLC owned approximately 0.39% of Crexendo at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Crexendo in the 1st quarter worth about $122,000. Bard Associates Inc. boosted its holdings in shares of Crexendo by 13.3% in the 1st quarter. Bard Associates Inc. now owns 666,093 shares of the company's stock worth $3,244,000 after purchasing an additional 77,968 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Crexendo by 23.3% in the 1st quarter. GSA Capital Partners LLP now owns 115,521 shares of the company's stock worth $563,000 after purchasing an additional 21,810 shares in the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of Crexendo by 241.2% in the 1st quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company's stock worth $831,000 after purchasing an additional 120,600 shares in the last quarter. Finally, Detalus Advisors LLC bought a new stake in shares of Crexendo in the 1st quarter valued at about $49,000. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Crexendo from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Lake Street Capital boosted their target price on Crexendo from $8.00 to $8.50 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Needham & Company LLC assumed coverage on Crexendo in a research note on Tuesday, July 1st. They issued a "buy" rating and a $8.00 target price for the company. Finally, D. Boral Capital boosted their target price on Crexendo from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $8.60.

Crexendo Price Performance

CXDO traded down $0.11 during midday trading on Friday, reaching $6.27. 174,353 shares of the company's stock traded hands, compared to its average volume of 267,346. The firm has a fifty day moving average of $5.82 and a two-hundred day moving average of $5.62. The stock has a market capitalization of $189.17 million, a price-to-earnings ratio of 62.71 and a beta of 0.98. Crexendo Inc. has a 52 week low of $3.75 and a 52 week high of $7.34.

Insider Buying and Selling

In other Crexendo news, CTO David Tzat-Kin Wang sold 392,610 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer owned 445,995 shares of the company's stock, valued at $2,185,375.50. This represents a 46.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ron Vincent sold 8,200 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $6.52, for a total value of $53,464.00. Following the transaction, the chief financial officer directly owned 172,747 shares of the company's stock, valued at $1,126,310.44. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,610 shares of company stock valued at $2,086,769 in the last ninety days. 56.20% of the stock is currently owned by corporate insiders.

Crexendo 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.