Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn Sells 10,000 Shares

Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction on Monday, March 10th. The shares were 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 $1,460,304. The trade was a 3.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Crexendo Trading Up 7.4 %

Shares of CXDO stock opened at $6.35 on Thursday. The firm has a fifty day simple moving average of $5.93 and a 200-day simple moving average of $5.40. The company has a market capitalization of $177.17 million, a PE ratio of 211.74 and a beta of 1.15. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34.

Hedge Funds Weigh In On Crexendo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after acquiring an additional 2,578 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of Crexendo in the 4th quarter valued at approximately $44,000. Walleye Capital LLC acquired a new stake in shares of Crexendo during the fourth quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Crexendo in the fourth quarter worth $69,000. Finally, GSA Capital Partners LLP raised its holdings 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 acquiring an additional 5,139 shares in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CXDO. D. Boral Capital boosted 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 reiterated a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a 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.