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

Crexendo logo with Computer and Technology background

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

Crexendo Trading Down 3.9%

Shares of CXDO traded down $0.25 during mid-day trading on Tuesday, reaching $6.14. 161,408 shares of the stock traded hands, compared to its average volume of 175,953. The company has a market cap of $178.24 million, a price-to-earnings ratio of 76.76 and a beta of 1.15. The firm has a fifty day moving average price of $5.62 and a 200 day moving average price of $5.53. Crexendo Inc. has a 1 year low of $3.05 and a 1 year high of $7.34.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC assumed coverage on Crexendo in a research report on Tuesday, July 1st. They set a "buy" rating and a $8.00 target price on the stock. Craig Hallum initiated coverage on Crexendo in a report on Monday, April 7th. They set a "buy" rating and a $8.00 price objective on the stock. D. Boral Capital restated a "buy" rating and issued a $10.00 target price on shares of Crexendo in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut Crexendo from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $8.38.

Get Our Latest Stock Analysis on CXDO

Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently made changes to their positions in CXDO. Bard Associates Inc. grew its position in Crexendo by 13.3% in the first quarter. Bard Associates Inc. now owns 666,093 shares of the company's stock worth $3,244,000 after acquiring an additional 77,968 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Crexendo by 384.1% during the 1st quarter. Acadian Asset Management LLC now owns 337,787 shares of the company's stock valued at $1,643,000 after purchasing an additional 268,004 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Crexendo by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 274,100 shares of the company's stock worth $1,434,000 after buying an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Crexendo by 65.5% during the fourth 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 last quarter. Finally, Perkins Capital Management Inc. grew its position in Crexendo by 241.2% during the first quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company's stock valued at $831,000 after acquiring an additional 120,600 shares during the last quarter. Hedge funds and other institutional investors own 9.53% of the company's stock.

About Crexendo

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Crexendo (NASDAQ:CXDO)

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