Crexendo, Inc. (NASDAQ:CXDO) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC reduced its position in Crexendo, Inc. (NASDAQ:CXDO) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,076 shares of the company’s stock after selling 65,026 shares during the quarter. Legato Capital Management LLC owned about 0.82% of Crexendo worth $1,146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in shares of Crexendo by 41.2% in the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after buying an additional 5,139 shares during the last quarter. Advisor Resource Council purchased a new stake in Crexendo during the 3rd quarter valued at about $93,000. Barclays PLC acquired a new stake in Crexendo in the 3rd quarter valued at about $109,000. ARS Investment Partners LLC acquired a new stake in Crexendo in the 4th quarter valued at about $243,000. Finally, Geode Capital Management LLC lifted its stake 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 purchasing an additional 21,739 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Trading Up 0.8 %

Shares of CXDO stock opened at $5.95 on Thursday. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.59. The company’s 50-day moving average price is $5.45 and its 200-day moving average price is $5.15. The stock has a market cap of $158.98 million, a price-to-earnings ratio of 198.40 and a beta of 1.11.

Analyst Ratings Changes

Separately, D. Boral Capital began coverage on Crexendo in a research report on Tuesday, January 21st. They issued a “buy” rating and a $7.00 price target for the company.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 249,730 shares in the company, valued at approximately $1,311,082.50. This represents a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.90, for a total transaction of $522,668.30. Following the completion of the sale, the chief technology officer now owns 443,079 shares in the company, valued at approximately $2,171,087.10. This trade represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,960 shares of company stock valued at $653,627 over the last ninety days. Company insiders own 56.20% 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.