Congress Wealth Management LLC DE Purchases 25,000 Shares of Crexendo, Inc. (NASDAQ:CXDO)

Congress Wealth Management LLC DE grew its position in shares of Crexendo, Inc. (NASDAQ:CXDO) by 83.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 55,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Congress Wealth Management LLC DE’s holdings in Crexendo were worth $288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Crexendo by 18.4% in the 3rd 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. Perkins Capital Management Inc. bought a new position in shares of Crexendo during the fourth quarter valued at $262,000. ARS Investment Partners LLC purchased a new stake in shares of Crexendo during the fourth quarter valued at $243,000. Barclays PLC bought a new stake in Crexendo in the 3rd quarter worth about $109,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in Crexendo in the 4th quarter worth about $44,000. Institutional investors own 9.53% of the company’s stock.

Insider Activity at Crexendo

In other news, CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the transaction, the chief executive officer now owns 243,384 shares in the company, valued at $1,460,304. This trade represents a 3.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00. Following the completion of the sale, the chief technology officer now owns 445,995 shares of the company’s stock, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,476 shares of company stock worth $1,384,818. 56.20% of the stock is owned by company insiders.

Crexendo Stock Down 5.4 %

NASDAQ CXDO opened at $5.12 on Friday. The company has a 50-day moving average price of $5.98 and a 200-day moving average price of $5.47. Crexendo, Inc. has a 52 week low of $2.92 and a 52 week high of $7.34. The firm has a market capitalization of $142.85 million, a P/E ratio of 170.72 and a beta of 1.15.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CXDO. D. Boral Capital raised their price target on shares of Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley restated a “buy” rating and issued a $7.50 target price (up previously from $6.75) on shares of Crexendo in a report on Wednesday, March 5th.

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.