Creative Financial Designs Inc. ADV Buys New Stake in Crexendo, Inc. (NASDAQ:CXDO)

Creative Financial Designs Inc. ADV purchased a new position in Crexendo, Inc. (NASDAQ:CXDO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,500 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP lifted its position 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 worth $82,000 after acquiring an additional 5,139 shares during the period. Barclays PLC bought a new stake in shares of Crexendo during the third quarter valued at approximately $109,000. ARS Investment Partners LLC acquired a new position in shares of Crexendo in the fourth quarter valued at $243,000. Finally, Geode Capital Management LLC lifted its position in Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after purchasing an additional 21,739 shares during the period. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Crexendo news, CTO David Tzat-Kin Wang sold 229,476 shares of the business’s stock in a transaction dated 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 directly owns 445,995 shares in the company, valued at $2,452,972.50. The trade was a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey G. Korn sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief executive officer now directly owns 243,384 shares of the company’s stock, valued at approximately $1,460,304. This represents a 3.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,476 shares of company stock worth $1,384,818. Corporate insiders own 56.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. B. Riley restated a “buy” rating and issued a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th. D. Boral Capital increased their price target on shares of Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th.

Crexendo Price Performance

Shares of CXDO stock opened at $5.51 on Friday. The stock’s fifty day simple moving average is $5.96 and its 200 day simple moving average is $5.43. Crexendo, Inc. has a one year low of $2.92 and a one year high of $7.34. The firm has a market cap of $153.73 million, a price-to-earnings ratio of 183.73 and a beta of 1.15.

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.