Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) COO Sells 10,000 Shares of Stock

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

Crexendo Stock Performance

Shares of Crexendo stock opened at $5.75 on Friday. The company has a market capitalization of $160.43 million, a P/E ratio of 191.73 and a beta of 1.15. The company has a fifty day moving average of $5.94 and a 200 day moving average of $5.41. Crexendo, Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.34.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP boosted its holdings in Crexendo by 36.9% in the 4th quarter. Two Sigma Investments LP now owns 124,638 shares of the company’s stock worth $652,000 after buying an additional 33,602 shares during the period. OMERS ADMINISTRATION Corp bought a new position in Crexendo in the 4th quarter worth $206,000. Bank of America Corp DE boosted its holdings in Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after buying an additional 2,578 shares during the period. Jane Street Group LLC boosted its holdings in Crexendo by 93.1% in the 4th quarter. Jane Street Group LLC now owns 23,075 shares of the company’s stock worth $121,000 after buying an additional 11,128 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Crexendo in the 4th quarter worth $69,000. Institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CXDO shares. D. Boral Capital upped 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 restated a “buy” rating and issued a $7.50 price objective (up from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th.

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.