Bard Associates Inc. Cuts Stock Position in Crexendo, Inc. (NASDAQ:CXDO)

Bard Associates Inc. lessened its stake in shares of Crexendo, Inc. (NASDAQ:CXDO) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 604,287 shares of the company’s stock after selling 4,160 shares during the period. Bard Associates Inc. owned 2.26% of Crexendo worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CXDO. GSA Capital Partners LLP grew its stake in 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 acquiring an additional 5,139 shares in the last quarter. Advisor Resource Council purchased a new stake in Crexendo during the 3rd quarter valued at about $93,000. Essex Investment Management Co. LLC increased its holdings 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 worth $3,845,000 after buying an additional 776,102 shares during the period. Creative Planning raised its position in Crexendo by 165.4% during the second quarter. Creative Planning now owns 1,408,151 shares of the company’s stock valued at $4,429,000 after acquiring an additional 877,554 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in 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 buying an additional 50,148 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Crexendo Stock Down 2.7 %

NASDAQ CXDO opened at $5.11 on Friday. The business’s 50-day moving average price is $5.09 and its 200 day moving average price is $4.33. Crexendo, Inc. has a 52-week low of $2.15 and a 52-week high of $7.59. The firm has a market cap of $136.51 million, a P/E ratio of 170.33 and a beta of 1.15.

Insider Buying and Selling at Crexendo

In other news, insider Anand Buch sold 20,501 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $5.01, for a total transaction of $102,710.01. Following the completion of the transaction, the insider now directly owns 548,139 shares of the company’s stock, valued at approximately $2,746,176.39. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Tzat-Kin Wang sold 20,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.25, for a total value of $107,625.00. Following the completion of the transaction, the chief technology officer now directly owns 439,327 shares of the company’s stock, valued at approximately $2,306,466.75. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,901 shares of company stock valued at $540,464. 56.20% of the stock is owned by insiders.

Crexendo 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.