Crexendo (NASDAQ:CXDO) Now Covered by D. Boral Capital

D. Boral Capital started coverage on shares of Crexendo (NASDAQ:CXDO) in a report published on Tuesday, MarketBeat reports. The firm issued a buy rating and a $7.00 price target on the stock.

Crexendo Price Performance

NASDAQ CXDO opened at $5.77 on Tuesday. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.59. The company has a market capitalization of $154.17 million, a PE ratio of 192.40 and a beta of 1.10. The company has a fifty day moving average of $5.27 and a 200 day moving average of $4.93.

Insider Transactions at Crexendo

In other news, CTO David Tzat-Kin Wang sold 12,293 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $5.15, for a total transaction of $63,308.95. Following the sale, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at $2,281,856.85. This represents a 2.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey G. Korn sold 7,000 shares of Crexendo stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the transaction, the chief executive officer now owns 249,730 shares of the company’s stock, valued at approximately $1,311,082.50. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,960 shares of company stock worth $653,627 over the last quarter. 56.20% of the stock is currently owned by insiders.

Institutional Trading of Crexendo

A number of institutional investors and hedge funds have recently made changes to their positions in CXDO. Essex Investment Management Co. LLC grew its stake in Crexendo by 1,473.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 828,759 shares of the company’s stock valued at $3,845,000 after acquiring an additional 776,102 shares during the period. Renaissance Technologies LLC increased 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 purchasing an additional 254,065 shares in the last quarter. Creative Planning raised its position in shares of Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after purchasing an additional 877,554 shares during the last quarter. Barclays PLC purchased a new position in Crexendo in the 3rd quarter valued at about $109,000. Finally, Geode Capital Management LLC boosted its holdings in Crexendo by 18.4% in the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after buying an additional 21,739 shares during the last quarter. 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.