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

Crexendo, Inc. (NASDAQ:CXDO) CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.00, for a total value of $60,000.00. Following the sale, the chief executive officer now directly owns 243,384 shares of the company’s stock, valued at $1,460,304. This represents a 3.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crexendo Stock Performance

CXDO stock traded up $0.44 during mid-day trading on Wednesday, hitting $6.35. 375,546 shares of the company were exchanged, compared to its average volume of 150,117. Crexendo, Inc. has a 1-year low of $2.92 and a 1-year high of $7.34. The firm’s 50 day simple moving average is $5.90 and its 200 day simple moving average is $5.39. The firm has a market cap of $177.17 million, a P/E ratio of 211.74 and a beta of 1.15.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Crexendo

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

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.