Crexendo, Inc. (NASDAQ:CXDO) CTO Sells $1,262,118.00 in Stock

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 229,476 shares of Crexendo stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total value of $1,262,118.00. Following the transaction, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Crexendo Stock Performance

Shares of CXDO stock opened at $5.74 on Thursday. The stock has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $5.43. Crexendo, Inc. has a 52-week low of $2.92 and a 52-week high of $7.34. The firm has a market capitalization of $160.15 million, a PE ratio of 191.40 and a beta of 1.15.

Wall Street Analysts Forecast Growth

CXDO has been the topic of several recent research reports. 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 reaffirmed a “buy” rating and set a $7.50 price target (up previously from $6.75) on shares of Crexendo in a report on Wednesday, March 5th.

Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently added to or reduced their stakes in CXDO. Barclays PLC grew its holdings in Crexendo by 8.9% during the 4th quarter. Barclays PLC now owns 25,688 shares of the company’s stock valued at $134,000 after buying an additional 2,105 shares in the last quarter. Bank of America Corp DE grew its stake in Crexendo by 71.7% during the fourth 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. GSA Capital Partners LLP grew its stake 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 acquiring an additional 5,139 shares in the last quarter. Northern Trust Corp increased its holdings in Crexendo by 44.8% in the 4th quarter. Northern Trust Corp now owns 19,680 shares of the company’s stock valued at $103,000 after acquiring an additional 6,085 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Crexendo during the 4th quarter valued at about $44,000. Institutional investors own 9.53% of the company’s stock.

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.