Crexendo (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 25,000 Shares of Stock

Key Points

• Crexendo CTO David Tzat-Kin Wang sold 25,000 shares at an average price of $6.50, generating $162,500 and reducing his ownership by 4.47% to 534,747 shares.
• Crexendo shares fell 3.7% to $5.91, near the company’s 52-week low of $5.55. The stock has a market capitalization of approximately $196.5 million.
• The company recently exceeded quarterly EPS expectations, reporting $0.12 versus the $0.10 consensus estimate. Analysts maintain a consensus “Moderate Buy” rating with a $10.50 target price.

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CTO David Tzat-Kin Wang sold 25,000 shares of Crexendo stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $6.50, for a total transaction of $162,500.00. Following the transaction, the chief technology officer directly owned 534,747 shares in the company, valued at approximately $3,475,855.50. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 15th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.49, for a total transaction of $187,250.00.
• On Friday, June 12th, David Tzat-Kin Wang sold 25,000 shares of Crexendo stock. The shares were sold at an average price of $7.39, for a total transaction of $184,750.00.

Crexendo Trading Down 3.7%

Crexendo stock traded down $0.23 during mid-day trading on Tuesday, hitting $5.91. 333,315 shares of the company's stock were exchanged, compared to its average volume of 379,237. The company's 50 day simple moving average is $7.07 and its 200-day simple moving average is $7.20. The company has a quick ratio of 1.98, a current ratio of 2.06 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $196.51 million, a P/E ratio of 42.21 and a beta of 1.12. Crexendo Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $11.23.

Crexendo (NASDAQ:CXDO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $24.65 million during the quarter, compared to analysts' expectations of $24.65 million. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. On average, equities analysts anticipate that Crexendo Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

CXDO has been the subject of a number of research reports. Needham & Company LLC increased their target price on Crexendo from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Lake Street Capital reissued a "buy" rating and set a $11.00 price objective on shares of Crexendo in a research report on Wednesday, May 6th. B. Riley Financial dropped their price objective on shares of Crexendo from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Crexendo in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CXDO. Potomac Capital Management Inc. bought a new position in shares of Crexendo in the 4th quarter valued at about $985,000. MidFirst Bank bought a new stake in Crexendo during the second quarter worth about $1,474,000. Renaissance Technologies LLC raised its holdings in Crexendo by 52.3% during the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company's stock worth $2,139,000 after acquiring an additional 119,037 shares in the last quarter. Globeflex Capital L P acquired a new position in Crexendo during the second quarter valued at approximately $967,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Crexendo by 26.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company's stock valued at $2,508,000 after purchasing an additional 85,943 shares during the last quarter. Institutional investors own 9.53% of the company's stock.

About Crexendo

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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