Crexendo (NASDAQ:CXDO) Price Target Raised to $10.00 at D. Boral Capital

Crexendo (NASDAQ:CXDO) had its price target increased by D. Boral Capital from $7.00 to $10.00 in a research report report published on Thursday,Benzinga reports. D. Boral Capital currently has a buy rating on the stock.

Separately, B. Riley reissued a “buy” rating and set a $7.50 price target (up previously from $6.75) on shares of Crexendo in a research report on Wednesday.

Crexendo Stock Performance

Shares of CXDO opened at $6.75 on Thursday. The stock has a market capitalization of $180.33 million, a PE ratio of 225.08 and a beta of 1.15. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.34. The company’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $5.37.

Insider Transactions at Crexendo

In related news, CTO David Tzat-Kin Wang sold 6,000 shares of the firm’s stock in a transaction that occurred on 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 $2,281,856.85. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey G. Korn sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 directly owns 249,730 shares in the company, valued at approximately $1,311,082.50. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,960 shares of company stock valued at $653,627. 56.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Crexendo

Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised its holdings in Crexendo by 36.9% in the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company’s stock valued at $652,000 after acquiring an additional 33,602 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Crexendo during the fourth quarter worth approximately $206,000. Bank of America Corp DE raised its holdings in Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after purchasing an additional 2,578 shares in the last quarter. Jane Street Group LLC raised its holdings in Crexendo by 93.1% during the fourth quarter. Jane Street Group LLC now owns 23,075 shares of the company’s stock worth $121,000 after purchasing an additional 11,128 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Crexendo during the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.