Jeffrey G. Korn Sells 10,000 Shares of Crexendo, Inc. (NASDAQ:CXDO) Stock

Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.00, for a total value of $60,000.00. Following the completion of the transaction, the chief executive officer now owns 243,384 shares of the company’s stock, valued at approximately $1,460,304. The trade was a 3.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Crexendo Trading Up 7.4 %

Shares of NASDAQ CXDO opened at $6.35 on Thursday. Crexendo, Inc. has a 12-month low of $2.92 and a 12-month high of $7.34. The company has a market cap of $177.17 million, a price-to-earnings ratio of 211.74 and a beta of 1.15. The stock’s 50 day simple moving average is $5.93 and its 200 day simple moving average is $5.40.

Hedge Funds Weigh In On Crexendo

Several hedge funds and other institutional investors have recently modified their holdings of CXDO. GSA Capital Partners LLP lifted its position in Crexendo by 41.2% in the 3rd 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 last quarter. Barclays PLC acquired a new stake in shares of Crexendo in the third quarter valued at approximately $109,000. Geode Capital Management LLC raised its holdings 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 valued at $651,000 after buying an additional 21,739 shares during the last quarter. ARS Investment Partners LLC acquired a new position in shares of Crexendo during the fourth quarter worth approximately $243,000. Finally, Creative Financial Designs Inc. ADV bought a new position in Crexendo in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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