Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) CEO Sells 10,000 Shares of Stock

Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief executive officer now owns 243,384 shares in the company, valued at approximately $1,460,304. This trade represents a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Crexendo Trading Down 6.7 %

Shares of NASDAQ CXDO opened at $5.75 on Friday. The company has a market cap of $160.43 million, a PE ratio of 191.73 and a beta of 1.15. The company has a 50-day moving average of $5.94 and a two-hundred day moving average of $5.41. Crexendo, Inc. has a 1-year low of $2.92 and a 1-year high of $7.34.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. D. Boral Capital boosted their target price on shares of Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. B. Riley reaffirmed a “buy” rating and issued a $7.50 target price (up from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th.

Institutional Investors Weigh In On Crexendo

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC bought a new stake in shares of Crexendo during the third quarter worth approximately $109,000. Geode Capital Management LLC raised its stake in shares of Crexendo by 18.4% during the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after buying an additional 21,739 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Crexendo by 41.2% during the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after buying an additional 5,139 shares during the last quarter. ARS Investment Partners LLC bought a new stake in shares of Crexendo during the fourth quarter worth approximately $243,000. Finally, NewEdge Advisors LLC raised its stake in shares of Crexendo by 265.3% during the fourth quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock worth $303,000 after buying an additional 42,020 shares during the last quarter. 9.53% of the stock is owned by institutional investors.

About Crexendo

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.