Crexendo Inc. (NASDAQ:CXDO – Get Free Report) CTO David Tzat-Kin Wang sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $10.01, for a total value of $250,250.00. Following the sale, the chief technology officer directly owned 604,949 shares in the company, valued at $6,055,539.49. This trade represents a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
David Tzat-Kin Wang also recently made the following trade(s):
- On Monday, March 9th, David Tzat-Kin Wang sold 20,482 shares of Crexendo stock. The stock was sold at an average price of $7.00, for a total value of $143,374.00.
Crexendo Trading Down 2.7%
Shares of NASDAQ:CXDO traded down $0.25 during trading on Thursday, hitting $8.93. 468,670 shares of the stock were exchanged, compared to its average volume of 688,920. The company has a fifty day moving average price of $7.86 and a two-hundred day moving average price of $7.05. The company has a market cap of $289.51 million, a PE ratio of 59.53 and a beta of 1.08. Crexendo Inc. has a 12-month low of $5.13 and a 12-month high of $11.23.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CXDO. BNP Paribas Financial Markets raised its position in shares of Crexendo by 172.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the last quarter. Strive Financial Group LLC acquired a new position in shares of Crexendo during the 4th quarter worth approximately $31,000. Bank of America Corp DE raised its position in shares of Crexendo by 71.7% during the 4th 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 last quarter. JPMorgan Chase & Co. acquired a new position in shares of Crexendo during the 2nd quarter worth approximately $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Crexendo during the 2nd quarter worth approximately $48,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CXDO. Weiss Ratings raised Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price target on Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital restated a “buy” rating and set a $11.00 price objective on shares of Crexendo in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.
Get Our Latest Stock Report on CXDO
Crexendo Company Profile
Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.
Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.
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