David Tzat-Kin Wang Sells 229,476 Shares of Crexendo, Inc. (NASDAQ:CXDO) Stock

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) CTO David Tzat-Kin Wang sold 229,476 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the transaction, the chief technology officer now directly owns 445,995 shares of the company's stock, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Crexendo Price Performance

CXDO stock traded up $0.05 during midday trading on Friday, hitting $5.51. The company's stock had a trading volume of 127,209 shares, compared to its average volume of 151,308. The stock has a market capitalization of $153.73 million, a P/E ratio of 183.73 and a beta of 1.15. The company's fifty day moving average price is $5.95 and its 200 day moving average price is $5.43. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34.

Analysts Set New Price Targets

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

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Institutional Investors Weigh In On Crexendo

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after purchasing an additional 2,578 shares during the period. Creative Financial Designs Inc. ADV bought a new stake in shares of Crexendo in the fourth quarter valued at approximately $44,000. Walleye Capital LLC acquired a new stake in Crexendo during the fourth quarter worth approximately $69,000. Schonfeld Strategic Advisors LLC acquired a new position in Crexendo in the 4th quarter valued at $69,000. Finally, GSA Capital Partners LLP increased its position in shares of Crexendo by 41.2% in the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company's stock worth $82,000 after purchasing an additional 5,139 shares during the period. Institutional investors and hedge funds own 9.53% of the company's stock.

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.