Crexendo (NASDAQ:CXDO) Price Target Raised to $10.00

Crexendo (NASDAQ:CXDO) had its price target boosted by D. Boral Capital from $7.00 to $10.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, B. Riley reiterated a “buy” rating and issued a $7.50 price target (up previously from $6.75) on shares of Crexendo in a report on Wednesday.

Crexendo Trading Down 4.1 %

CXDO opened at $6.47 on Thursday. The company has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $5.38. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.34. The company has a market cap of $172.85 million, a P/E ratio of 215.74 and a beta of 1.15.

Insider Activity

In other Crexendo news, CEO Jeffrey G. Korn sold 7,000 shares of Crexendo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 249,730 shares in the company, valued at approximately $1,311,082.50. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the sale, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. This trade represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,960 shares of company stock worth $653,627 over the last three months. 56.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crexendo

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Crexendo by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock valued at $1,434,000 after purchasing an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Crexendo by 65.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock valued at $1,138,000 after buying an additional 86,162 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crexendo by 18.4% during the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after buying an additional 21,739 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of 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 last quarter. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Crexendo in the fourth quarter valued at approximately $304,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

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.