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

Crexendo, Inc. (NASDAQ:CXDO) CTO David Tzat-Kin Wang sold 229,476 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Crexendo Stock Performance

Shares of NASDAQ CXDO traded up $0.11 during midday trading on Monday, reaching $5.86. 91,097 shares of the company’s stock were exchanged, compared to its average volume of 151,162. Crexendo, Inc. has a 52-week low of $2.92 and a 52-week high of $7.34. The stock has a market capitalization of $163.36 million, a PE ratio of 195.23 and a beta of 1.15. The business’s fifty day moving average price is $5.94 and its two-hundred day moving average price is $5.42.

Analyst Ratings Changes

CXDO has been the topic of several research reports. D. Boral Capital increased 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 reissued a “buy” rating and issued a $7.50 price objective (up from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th.

Institutional Trading of Crexendo

A number of hedge funds and other institutional investors have recently modified their holdings of CXDO. GSA Capital Partners LLP increased its position in shares of Crexendo by 41.2% during the third 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. Barclays PLC acquired a new position in Crexendo in the third quarter worth about $109,000. Geode Capital Management LLC grew 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 worth $651,000 after purchasing an additional 21,739 shares in the last quarter. ARS Investment Partners LLC acquired a new position in Crexendo in the fourth quarter worth about $243,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in Crexendo in the fourth quarter worth about $44,000. 9.53% of the stock is owned by hedge funds and other 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.