Crexendo (NASDAQ:CXDO) Earns Buy Rating from Analysts at D. Boral Capital

D. Boral Capital began coverage on shares of Crexendo (NASDAQ:CXDO) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $7.00 price objective on the stock.

Crexendo Price Performance

Shares of NASDAQ CXDO opened at $5.77 on Tuesday. The business has a fifty day moving average price of $5.27 and a 200 day moving average price of $4.93. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.59. The stock has a market capitalization of $154.17 million, a P/E ratio of 192.40 and a beta of 1.10.

Insider Transactions at Crexendo

In other news, CTO David Tzat-Kin Wang sold 106,667 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.90, for a total transaction of $522,668.30. Following the transaction, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. This represents a 19.40 % 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, CEO Jeffrey G. Korn sold 7,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the sale, the chief executive officer now directly owns 249,730 shares of the company’s stock, valued at $1,311,082.50. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,960 shares of company stock valued at $653,627 in the last 90 days. Insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning increased its holdings in shares of Crexendo by 165.4% during the second quarter. Creative Planning now owns 1,408,151 shares of the company’s stock valued at $4,429,000 after acquiring an additional 877,554 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Crexendo by 1,473.9% in the third quarter. Essex Investment Management Co. LLC now owns 828,759 shares of the company’s stock worth $3,845,000 after buying an additional 776,102 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Crexendo by 229.9% during the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock worth $1,147,000 after buying an additional 254,065 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Crexendo by 476.4% during the second quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock valued at $319,000 after buying an additional 83,702 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Crexendo by 49.9% in the 2nd quarter. Marshall Wace LLP now owns 150,723 shares of the company’s stock valued at $475,000 after acquiring an additional 50,148 shares during the period. 9.53% of the stock is currently 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.