Crexendo, Inc. (NASDAQ:CXDO) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its holdings in Crexendo, Inc. (NASDAQ:CXDO) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 732,671 shares of the company’s stock after selling 96,088 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Crexendo were worth $3,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its holdings in Crexendo by 41.2% in the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after buying an additional 5,139 shares during the period. Geode Capital Management LLC boosted its holdings in Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after acquiring an additional 21,739 shares during the period. Barclays PLC purchased a new position in Crexendo in the 3rd quarter worth approximately $109,000. Finally, ARS Investment Partners LLC purchased a new position in Crexendo in the 4th quarter worth approximately $243,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Insiders Place Their Bets

In other news, CTO David Tzat-Kin Wang sold 106,667 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. This represents a 19.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 249,730 shares of the company’s stock, valued at approximately $1,311,082.50. The trade was a 2.73 % 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 three months. Company insiders own 56.20% of the company’s stock.

Analysts Set New Price Targets

CXDO has been the topic of a number of recent analyst reports. D. Boral Capital upped their target price on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley reissued a “buy” rating and set a $7.50 price target (up from $6.75) on shares of Crexendo in a research report on Wednesday.

Crexendo Price Performance

Shares of NASDAQ CXDO opened at $6.47 on Friday. Crexendo, Inc. has a 1-year low of $2.92 and a 1-year high of $7.34. The business’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $5.38. The firm has a market capitalization of $172.85 million, a PE ratio of 215.74 and a beta of 1.15.

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.