Anand Buch Sells 11,950 Shares of Crexendo, Inc. (NASDAQ:CXDO) Stock

Crexendo, Inc. (NASDAQ:CXDO) insider Anand Buch sold 11,950 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $3.04, for a total value of $36,328.00. Following the completion of the transaction, the insider now owns 548,139 shares of the company’s stock, valued at approximately $1,666,342.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Crexendo Stock Performance

NASDAQ:CXDO opened at $3.29 on Thursday. The business has a 50 day moving average of $3.83 and a 200 day moving average of $4.68. The company has a market capitalization of $87.61 million, a price-to-earnings ratio of 65.80 and a beta of 1.16. Crexendo, Inc. has a 1-year low of $1.49 and a 1-year high of $7.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.01 and a quick ratio of 1.97.

Crexendo (NASDAQ:CXDO) last released its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $14.29 million during the quarter, compared to the consensus estimate of $14.10 million. Crexendo had a return on equity of 10.88% and a net margin of 3.01%. On average, sell-side analysts predict that Crexendo, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CXDO shares. TheStreet upgraded Crexendo from a “d” rating to a “c” rating in a research report on Tuesday, March 19th. Lake Street Capital lifted their price target on Crexendo from $5.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, B. Riley upgraded Crexendo from a “neutral” rating to a “buy” rating and dropped their price target for the company from $6.75 to $5.75 in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On Crexendo

A number of large investors have recently bought and sold shares of CXDO. Acadian Asset Management LLC purchased a new position in Crexendo in the 1st quarter worth approximately $605,000. Vanguard Group Inc. increased its stake in Crexendo by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock worth $2,193,000 after purchasing an additional 30,646 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Crexendo in the 4th quarter worth approximately $108,000. Heron Bay Capital Management purchased a new position in Crexendo in the 1st quarter worth approximately $87,000. Finally, SG Americas Securities LLC purchased a new position in Crexendo in the 1st quarter worth approximately $55,000. 9.53% of the stock is owned by hedge funds and other 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.