Integrated Quantitative Investments LLC Purchases Shares of 58,052 Crexendo, Inc. (NASDAQ:CXDO)

Integrated Quantitative Investments LLC acquired a new position in shares of Crexendo, Inc. (NASDAQ:CXDO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,052 shares of the company’s stock, valued at approximately $304,000. Integrated Quantitative Investments LLC owned about 0.22% of Crexendo at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CXDO. Creative Financial Designs Inc. ADV acquired a new position in shares of Crexendo during the 4th quarter worth approximately $44,000. Barclays PLC acquired a new position in Crexendo during the 3rd quarter worth about $109,000. ARS Investment Partners LLC bought a new position in Crexendo during the fourth quarter worth $243,000. Perkins Capital Management Inc. bought a new position in shares of Crexendo during the 4th quarter worth approximately $262,000. Finally, Congress Wealth Management LLC DE grew its stake in shares of Crexendo by 83.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 55,000 shares of the company’s stock valued at $288,000 after buying an additional 25,000 shares during the period. Institutional investors own 9.53% of the company’s stock.

Crexendo Stock Down 9.5 %

Crexendo stock opened at $4.12 on Friday. The firm has a 50 day moving average price of $5.89 and a 200-day moving average price of $5.47. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34. The company has a market capitalization of $114.95 million, a P/E ratio of 137.38 and a beta of 1.33.

Insider Activity at Crexendo

In other news, CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the chief executive officer now owns 243,384 shares of the company’s stock, valued at $1,460,304. The trade was a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the transaction, the chief technology officer now directly owns 445,995 shares of the company’s stock, valued at approximately $2,452,972.50. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,476 shares of company stock worth $1,384,818. Insiders own 56.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. D. Boral Capital raised their target price on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 6th. B. Riley reaffirmed a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th.

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.