Bard Associates Inc. Sells 16,162 Shares of Crexendo, Inc. (NASDAQ:CXDO)

Bard Associates Inc. lowered its holdings in shares of Crexendo, Inc. (NASDAQ:CXDO) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 588,125 shares of the company’s stock after selling 16,162 shares during the period. Bard Associates Inc. owned approximately 2.20% of Crexendo worth $3,076,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GSA Capital Partners LLP increased its stake in shares of Crexendo by 41.2% in the 3rd 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. Advisor Resource Council acquired a new stake in Crexendo in the third quarter worth $93,000. Barclays PLC acquired a new position in shares of Crexendo during the third quarter valued at about $109,000. ARS Investment Partners LLC bought a new position in shares of Crexendo during the 4th quarter worth about $243,000. Finally, Geode Capital Management LLC grew its stake in shares of Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after buying an additional 21,739 shares during the period. 9.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crexendo

In other news, CEO Jeffrey G. Korn sold 7,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the sale, the chief executive officer now owns 249,730 shares in the company, valued at $1,311,082.50. This represents a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the firm’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 transaction, the chief technology officer now directly owns 443,079 shares in the company, valued at $2,171,087.10. The trade was a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,960 shares of company stock worth $653,627. Insiders own 56.20% of the company’s stock.

Crexendo Price Performance

Shares of NASDAQ CXDO opened at $5.91 on Tuesday. The company has a 50-day moving average price of $5.78 and a 200-day moving average price of $5.34. The stock has a market capitalization of $157.89 million, a P/E ratio of 197.07 and a beta of 1.11. Crexendo, Inc. has a 1 year low of $2.92 and a 1 year high of $7.09.

Wall Street Analyst Weigh In

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

Crexendo 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.