Schonfeld Strategic Advisors LLC Takes $69,000 Position in Crexendo, Inc. (NASDAQ:CXDO)

Schonfeld Strategic Advisors LLC bought a new stake in Crexendo, Inc. (NASDAQ:CXDO) during the 4th quarter, HoldingsChannel reports. The fund bought 13,200 shares of the company’s stock, valued at approximately $69,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC purchased a new stake in shares of Crexendo in the third quarter valued at $109,000. Perkins Capital Management Inc. bought a new position in shares of Crexendo in the fourth quarter worth about $262,000. Renaissance Technologies LLC grew its holdings in shares of Crexendo by 16.4% in the fourth quarter. Renaissance Technologies LLC now owns 274,100 shares of the company’s stock worth $1,434,000 after purchasing an additional 38,700 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Crexendo by 265.3% in the fourth quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock worth $303,000 after purchasing an additional 42,020 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of Crexendo in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Insider Activity

In other news, CTO David Tzat-Kin Wang sold 229,476 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $5.50, for a total value of $1,262,118.00. Following the sale, the chief technology officer now directly owns 445,995 shares in the company, valued at approximately $2,452,972.50. This trade represents a 33.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief executive officer now owns 243,384 shares in the company, valued at $1,460,304. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,476 shares of company stock worth $1,384,818. Corporate insiders own 56.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CXDO shares. Craig Hallum started coverage on shares of Crexendo in a report on Monday, April 7th. They set a “buy” rating and a $8.00 target price on the stock. D. Boral Capital reiterated a “buy” rating and set a $10.00 target price on shares of Crexendo in a report on Wednesday, May 7th. Finally, B. Riley reiterated a “buy” rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a report on Wednesday, March 5th.

Crexendo Stock Performance

NASDAQ:CXDO opened at $5.89 on Thursday. Crexendo, Inc. has a fifty-two week low of $2.92 and a fifty-two week high of $7.34. The stock has a market capitalization of $170.99 million, a P/E ratio of 196.40 and a beta of 1.09. The company’s 50-day simple moving average is $5.10 and its 200-day simple moving average is $5.43.

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.