Crexendo, Inc. (NASDAQ:CXDO) COO Sells $62,700.00 in Stock

Crexendo, Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were 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 approximately $1,442,143.89. This trade represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Crexendo Stock Down 6.7 %

Shares of CXDO stock opened at $5.75 on Monday. The stock has a 50-day moving average price of $5.94 and a 200 day moving average price of $5.42. The firm has a market cap of $160.43 million, a price-to-earnings ratio of 191.73 and a beta of 1.15. Crexendo, Inc. has a 12 month low of $2.92 and a 12 month high of $7.34.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CXDO. D. Boral Capital lifted their price objective on Crexendo from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. B. Riley reiterated a “buy” rating and issued a $7.50 price objective (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th.

Hedge Funds Weigh In On Crexendo

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Crexendo by 71.7% during 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. Creative Financial Designs Inc. ADV acquired a new position in shares of Crexendo during the 4th quarter worth about $44,000. Walleye Capital LLC acquired a new position in shares of Crexendo during the 4th quarter worth about $69,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Crexendo during the 4th quarter worth about $69,000. Finally, GSA Capital Partners LLP grew its position in shares of Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after buying an additional 5,139 shares during the period. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.