Insider Selling: Crexendo Inc. (NASDAQ:CXDO) CEO Sells 2,800 Shares of Stock

Crexendo Inc. (NASDAQ:CXDO - Get Free Report) CEO Jeffrey G. Korn sold 2,800 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $6.54, for a total value of $18,312.00. Following the transaction, the chief executive officer owned 248,986 shares in the company, valued at $1,628,368.44. This trade represents a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crexendo Price Performance

Shares of CXDO traded up $0.11 during midday trading on Wednesday, reaching $6.25. 106,130 shares of the stock were exchanged, compared to its average volume of 175,675. The business's 50-day moving average price is $5.62 and its 200 day moving average price is $5.53. The company has a market capitalization of $181.44 million, a price-to-earnings ratio of 78.13 and a beta of 1.15. Crexendo Inc. has a twelve month low of $3.05 and a twelve month high of $7.34.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CXDO. Barclays PLC grew its holdings in shares of Crexendo by 8.9% during the fourth quarter. Barclays PLC now owns 25,688 shares of the company's stock worth $134,000 after buying an additional 2,105 shares during the last quarter. Bank of America Corp DE lifted its position in Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after acquiring an additional 2,578 shares during the period. OMERS ADMINISTRATION Corp lifted its position in Crexendo by 10.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 43,600 shares of the company's stock worth $212,000 after acquiring an additional 4,300 shares during the period. Northern Trust Corp lifted its position in Crexendo by 44.8% during the 4th quarter. Northern Trust Corp now owns 19,680 shares of the company's stock worth $103,000 after acquiring an additional 6,085 shares during the period. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Crexendo during the fourth quarter worth approximately $44,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.