Perkins Capital Management Inc. Purchases Shares of 50,000 Crexendo, Inc. (NASDAQ:CXDO)

Perkins Capital Management Inc. purchased a new stake in Crexendo, Inc. (NASDAQ:CXDO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 50,000 shares of the company's stock, valued at approximately $262,000. Perkins Capital Management Inc. owned approximately 0.19% of Crexendo as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of Crexendo in the third quarter valued at about $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 buying an additional 21,739 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Crexendo by 41.2% in the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company's stock worth $82,000 after buying an additional 5,139 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in Crexendo during the 4th quarter worth approximately $44,000. Finally, ARS Investment Partners LLC acquired a new position in Crexendo during the fourth quarter worth $243,000. Institutional investors and hedge funds own 9.53% of the company's stock.

Analyst Ratings Changes

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

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Crexendo Stock Performance

Shares of NASDAQ CXDO traded down $0.29 during mid-day trading on Friday, reaching $5.12. 120,066 shares of the company's stock were exchanged, compared to its average volume of 151,316. The firm has a market capitalization of $142.85 million, a price-to-earnings ratio of 170.72 and a beta of 1.15. Crexendo, Inc. has a 52-week low of $2.92 and a 52-week high of $7.34. The company's 50-day moving average is $5.98 and its 200-day moving average is $5.46.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Korn sold 10,000 shares of Crexendo stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 243,384 shares in the company, valued at approximately $1,460,304. The trade was a 3.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares in the company, valued at approximately $2,452,972.50. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,476 shares of company stock valued at $1,384,818 over the last 90 days. 56.20% of the stock is owned by company insiders.

Crexendo 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.