Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) CEO Sells $60,000.00 in Stock

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

Crexendo Stock Performance

Shares of Crexendo stock opened at $5.75 on Friday. The firm’s 50-day simple moving average is $5.94 and its 200-day simple moving average is $5.41. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34. The firm has a market cap of $160.43 million, a P/E ratio of 191.73 and a beta of 1.15.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CXDO. B. Riley restated a “buy” rating and set a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a report on Wednesday, March 5th. D. Boral Capital boosted their price objective on shares of Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 6th.

Institutional Trading of Crexendo

Several institutional investors have recently made changes to their positions in CXDO. Bank of America Corp DE boosted its position in shares of Crexendo by 71.7% during the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Crexendo in the fourth quarter valued at about $44,000. Walleye Capital LLC acquired a new position in Crexendo in the fourth quarter valued at about $69,000. Schonfeld Strategic Advisors LLC acquired a new position in Crexendo in the fourth quarter valued at about $69,000. Finally, GSA Capital Partners LLP boosted its position in 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 in the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.