Renaissance Technologies LLC Purchases 254,065 Shares of Crexendo, Inc. (NASDAQ:CXDO)

Renaissance Technologies LLC boosted its position in Crexendo, Inc. (NASDAQ:CXDO) by 229.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 364,565 shares of the company’s stock after purchasing an additional 254,065 shares during the period. Renaissance Technologies LLC owned about 1.37% of Crexendo worth $1,147,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Crexendo in the first quarter valued at about $55,000. Heron Bay Capital Management purchased a new position in Crexendo in the first quarter valued at about $87,000. Bailard Inc. purchased a new position in Crexendo in the second quarter valued at about $113,000. Dimensional Fund Advisors LP boosted its stake in Crexendo by 476.4% in the second quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock valued at $319,000 after acquiring an additional 83,702 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Crexendo during the 1st quarter valued at approximately $605,000. 9.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, B. Riley upped their price target on shares of Crexendo from $5.75 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other news, CTO David Tzat-Kin Wang sold 20,500 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.25, for a total value of $107,625.00. Following the transaction, the chief technology officer now owns 439,327 shares of the company’s stock, valued at $2,306,466.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Anand Buch sold 20,501 shares of Crexendo stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $4.91, for a total value of $100,659.91. Following the transaction, the insider now owns 548,139 shares in the company, valued at $2,691,362.49. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David Tzat-Kin Wang sold 20,500 shares of Crexendo stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.25, for a total transaction of $107,625.00. Following the completion of the transaction, the chief technology officer now owns 439,327 shares in the company, valued at approximately $2,306,466.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,903 shares of company stock worth $545,862 in the last three months. 56.20% of the stock is currently owned by corporate insiders.

Crexendo Stock Performance

Shares of CXDO stock opened at $4.64 on Friday. The stock has a market capitalization of $123.89 million, a P/E ratio of 92.80 and a beta of 1.18. The company has a current ratio of 2.10, a quick ratio of 2.04 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $4.62 and its 200 day moving average is $4.16. Crexendo, Inc. has a 12 month low of $1.54 and a 12 month high of $7.59.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Crexendo had a net margin of 4.89% and a return on equity of 12.86%. The business had revenue of $14.69 million for the quarter, compared to analysts’ expectations of $14.18 million. On average, sell-side analysts anticipate that Crexendo, Inc. will post 0.14 earnings per share for the current year.

Crexendo Company 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.