Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang Sells 229,476 Shares

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 229,476 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the sale, the chief technology officer now directly owns 445,995 shares in the company, valued at approximately $2,452,972.50. The trade was a 33.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Crexendo Trading Down 1.0 %

Shares of CXDO opened at $5.74 on Thursday. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34. The company’s fifty day simple moving average is $5.95 and its 200-day simple moving average is $5.43. The company has a market cap of $160.15 million, a P/E ratio of 191.40 and a beta of 1.15.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. B. Riley restated a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. D. Boral Capital upped their price objective on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 6th.

Institutional Trading of Crexendo

Several institutional investors have recently added to or reduced their stakes in CXDO. GSA Capital Partners LLP grew 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 valued at $82,000 after buying an additional 5,139 shares during the last quarter. Barclays PLC bought a new position in shares of Crexendo in the third quarter worth about $109,000. Geode Capital Management LLC grew its holdings 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 worth $651,000 after purchasing an additional 21,739 shares during the last quarter. ARS Investment Partners LLC purchased a new position in Crexendo in the 4th quarter worth about $243,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in Crexendo during the 4th quarter valued at about $44,000. Institutional investors own 9.53% of the company’s stock.

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.