Crexendo (NASDAQ:CXDO) Price Target Raised to $10.00 at D. Boral Capital
by Renee Jackson · The Cerbat GemCrexendo (NASDAQ:CXDO – Free Report) had its target price lifted by D. Boral Capital from $7.00 to $10.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Separately, B. Riley reissued a “buy” rating and issued a $7.50 price target (up previously from $6.75) on shares of Crexendo in a research report on Wednesday.
Check Out Our Latest Stock Analysis on CXDO
Crexendo Stock Performance
Shares of Crexendo stock opened at $6.47 on Thursday. The stock has a market capitalization of $172.85 million, a P/E ratio of 215.74 and a beta of 1.15. Crexendo has a 52-week low of $2.92 and a 52-week high of $7.34. The stock’s 50-day simple moving average is $5.88 and its 200 day simple moving average is $5.38.
Insider Activity at Crexendo
In related news, CTO David Tzat-Kin Wang sold 106,667 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.90, for a total transaction of $522,668.30. Following the completion of the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. The trade was a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the sale, the chief executive officer now owns 249,730 shares in the company, valued at $1,311,082.50. This represents a 2.73 % decrease in their ownership of the stock. 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. 56.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On Crexendo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXDO. Bank of America Corp DE raised its holdings in shares of Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after acquiring an additional 2,578 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in Crexendo in the fourth quarter valued at approximately $44,000. Walleye Capital LLC bought a new stake in Crexendo during the fourth quarter valued at approximately $69,000. Schonfeld Strategic Advisors LLC purchased a new position in Crexendo in the 4th quarter worth approximately $69,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Crexendo by 41.2% in the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after buying an additional 5,139 shares during the last quarter. 9.53% of the stock is currently owned by hedge funds and other 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.