Crexendo, Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor Sells 10,000 Shares

Crexendo, Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $6.27, for a total transaction of $62,700.00. Following the sale, the chief operating officer now owns 230,007 shares of the company’s stock, valued at approximately $1,442,143.89. This represents a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Crexendo Price Performance

CXDO stock traded down $0.41 during trading on Friday, reaching $5.75. The company had a trading volume of 424,689 shares, compared to its average volume of 153,102. Crexendo, Inc. has a 52 week low of $2.92 and a 52 week high of $7.34. The business has a 50 day moving average of $5.94 and a 200 day moving average of $5.41. The company has a market cap of $160.43 million, a P/E ratio of 191.73 and a beta of 1.15.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CXDO. Dimensional Fund Advisors LP raised its holdings in Crexendo by 65.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock worth $1,138,000 after purchasing an additional 86,162 shares in the last quarter. Integrated Quantitative Investments LLC bought a new position in shares of Crexendo in the 4th quarter worth about $304,000. Perkins Capital Management Inc. purchased a new position in Crexendo during the 4th quarter valued at about $262,000. ARS Investment Partners LLC bought a new stake in Crexendo during the fourth quarter worth about $243,000. Finally, NewEdge Advisors LLC boosted its stake in Crexendo by 265.3% during the fourth quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock worth $303,000 after acquiring an additional 42,020 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Company 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.