Bard Associates Inc. Sells 16,162 Shares of Crexendo, Inc. (NASDAQ:CXDO)

Bard Associates Inc. trimmed its holdings in shares of Crexendo, Inc. (NASDAQ:CXDO) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 588,125 shares of the company’s stock after selling 16,162 shares during the quarter. Bard Associates Inc.’s holdings in Crexendo were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GSA Capital Partners LLP grew its holdings in 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 purchasing an additional 5,139 shares during the period. Advisor Resource Council bought a new stake in shares of Crexendo in the third quarter valued at $93,000. Barclays PLC purchased a new position in shares of Crexendo during the 3rd quarter valued at $109,000. ARS Investment Partners LLC bought a new position in shares of Crexendo during the 4th quarter worth $243,000. Finally, Geode Capital Management LLC increased 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 last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, D. Boral Capital started coverage on shares of Crexendo in a report on Tuesday, January 21st. They set a “buy” rating and a $7.00 price objective on the stock.

Crexendo Price Performance

Crexendo stock opened at $5.91 on Tuesday. The firm has a market capitalization of $157.89 million, a P/E ratio of 197.07 and a beta of 1.11. Crexendo, Inc. has a one year low of $2.92 and a one year high of $7.09. The business has a fifty day moving average price of $5.78 and a 200-day moving average price of $5.34.

Insider Buying and Selling

In related news, CTO David Tzat-Kin Wang sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $5.15, for a total transaction of $30,900.00. Following the completion of the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at approximately $2,281,856.85. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the sale, the chief executive officer now directly owns 249,730 shares in the company, valued at $1,311,082.50. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,960 shares of company stock valued at $653,627. Corporate insiders own 56.20% of the company’s stock.

Crexendo 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.