Legato Capital Management LLC Cuts Stock Position in Crexendo, Inc. (NASDAQ:CXDO)

Legato Capital Management LLC decreased its holdings in Crexendo, Inc. (NASDAQ:CXDO) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,076 shares of the company’s stock after selling 65,026 shares during the quarter. Legato Capital Management LLC’s holdings in Crexendo were worth $1,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. ARS Investment Partners LLC purchased a new position in Crexendo in the 4th quarter valued at approximately $243,000. Barclays PLC acquired a new stake in shares of Crexendo in the third quarter valued at $109,000. Geode Capital Management LLC raised its stake in shares of Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after acquiring an additional 21,739 shares in the last quarter. Advisor Resource Council purchased a new position in Crexendo in the third quarter valued at $93,000. Finally, GSA Capital Partners LLP grew its stake in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after purchasing an additional 5,139 shares in the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Trading Up 0.8 %

Shares of CXDO opened at $5.95 on Thursday. The firm has a market capitalization of $158.98 million, a price-to-earnings ratio of 198.40 and a beta of 1.11. The firm’s fifty day simple moving average is $5.45 and its 200-day simple moving average is $5.15. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.59.

Insider Activity at Crexendo

In other Crexendo news, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.25, for a total value of $36,750.00. Following the transaction, the chief executive officer now directly owns 249,730 shares in the company, valued at $1,311,082.50. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.90, for a total transaction of $522,668.30. Following the sale, the chief technology officer now directly owns 443,079 shares in the company, valued at approximately $2,171,087.10. The trade was a 19.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,960 shares of company stock valued at $653,627 over the last quarter. 56.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital began coverage on Crexendo in a research report on Tuesday, January 21st. They issued a “buy” rating and a $7.00 price target on the stock.

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.