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

D. Boral Capital began coverage on shares of Crexendo (NASDAQ:CXDO) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $7.00 price target on the stock.

Crexendo Price Performance

Shares of CXDO stock opened at $5.56 on Tuesday. Crexendo has a one year low of $2.92 and a one year high of $7.59. The stock has a fifty day moving average price of $5.26 and a 200 day moving average price of $4.91. The stock has a market cap of $148.56 million, a P/E ratio of 185.40 and a beta of 1.10.

Insider Activity

In other news, CTO David Tzat-Kin Wang sold 6,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.15, for a total value of $30,900.00. Following the sale, the chief technology officer now owns 443,079 shares of the company’s stock, valued at approximately $2,281,856.85. This represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the sale, the chief executive officer now owns 249,730 shares of the company’s stock, valued at $1,311,082.50. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,960 shares of company stock worth $653,627. Corporate insiders own 56.20% of the company’s stock.

Institutional Trading of Crexendo

Several large investors have recently added to or reduced their stakes in CXDO. Creative Planning boosted its holdings in shares of Crexendo by 165.4% in the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after acquiring an additional 877,554 shares in the last quarter. Essex Investment Management Co. LLC raised its position 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 purchasing an additional 776,102 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Crexendo by 229.9% in 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. Marshall Wace LLP grew its holdings in shares of Crexendo by 49.9% during the second quarter. Marshall Wace LLP now owns 150,723 shares of the company’s stock worth $475,000 after purchasing an additional 50,148 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after buying an additional 21,739 shares in the last quarter. 9.53% of the stock is owned by institutional investors.

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.