Insider Selling: Crexendo, Inc. (NASDAQ:CXDO) COO Sells 10,000 Shares of Stock

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) COO Douglas Walter Gaylor sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 230,007 shares of the company's stock, valued at $1,442,143.89. This represents a 4.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crexendo Price Performance

NASDAQ CXDO traded down $0.16 during mid-day trading on Tuesday, reaching $5.76. 50,744 shares of the stock were exchanged, compared to its average volume of 151,112. The stock has a market cap of $160.68 million, a P/E ratio of 191.46 and a beta of 1.15. Crexendo, Inc. has a one year low of $2.92 and a one year high of $7.34. The stock has a 50 day simple moving average of $5.94 and a 200-day simple moving average of $5.42.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. D. Boral Capital raised their target price 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 restated a "buy" rating and set a $7.50 price objective (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th.

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Institutional Investors Weigh In On Crexendo

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its holdings in shares of Crexendo by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 274,100 shares of the company's stock worth $1,434,000 after buying an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Crexendo by 65.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company's stock worth $1,138,000 after purchasing an additional 86,162 shares during the period. Geode Capital Management LLC increased its stake in Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company's stock valued at $651,000 after purchasing an additional 21,739 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Crexendo by 36.9% during the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company's stock valued at $652,000 after purchasing an additional 33,602 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Crexendo during the fourth quarter valued at about $304,000. 9.53% of the stock is currently owned by 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.