D. Boral Capital Begins Coverage on Crexendo (NASDAQ:CXDO)

D. Boral Capital assumed coverage on shares of Crexendo (NASDAQ:CXDO - Get Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $7.00 price target on the stock. D. Boral Capital's target price would indicate a potential upside of 26.70% from the company's current price.

Crexendo Price Performance

Shares of CXDO stock traded up $0.18 during trading hours on Tuesday, hitting $5.53. 88,474 shares of the company's stock were exchanged, compared to its average volume of 125,323. Crexendo has a 52 week low of $2.92 and a 52 week high of $7.59. The stock's 50-day moving average is $5.26 and its 200-day moving average is $4.91. The stock has a market cap of $147.63 million, a price-to-earnings ratio of 184.23 and a beta of 1.10.

Insiders Place Their Bets

In other Crexendo news, CTO David Tzat-Kin Wang sold 6,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $5.15, for a total value of $30,900.00. Following the transaction, the chief technology officer now owns 443,079 shares of the company's stock, valued at approximately $2,281,856.85. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total value of $36,750.00. Following the transaction, the chief executive officer now owns 249,730 shares of the company's stock, valued at $1,311,082.50. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,960 shares of company stock valued at $653,627. 56.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Crexendo

A number of large investors have recently bought and sold shares of the business. ARS Investment Partners LLC acquired a new position in Crexendo in the 4th quarter worth $243,000. Barclays PLC acquired a new stake in Crexendo in the 3rd quarter valued at approximately $109,000. Geode Capital Management LLC lifted its stake in Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company's stock valued at $651,000 after acquiring an additional 21,739 shares in the last quarter. GSA Capital Partners LLP boosted its position in 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 acquiring an additional 5,139 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in Crexendo in the 3rd quarter valued at $93,000. 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.