OMERS ADMINISTRATION Corp Takes $206,000 Position in Crexendo, Inc. (NASDAQ:CXDO)

OMERS ADMINISTRATION Corp acquired a new stake in Crexendo, Inc. (NASDAQ:CXDO) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 39,300 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently made changes to their positions in CXDO. Barclays PLC purchased a new stake in shares of Crexendo in the 3rd quarter valued at $109,000. ARS Investment Partners LLC purchased a new stake in shares of Crexendo in the 4th quarter valued at $243,000. Creative Financial Designs Inc. ADV purchased a new stake in Crexendo during the 4th quarter valued at $44,000. Perkins Capital Management Inc. purchased a new stake in Crexendo during the 4th quarter valued at $262,000. Finally, Congress Wealth Management LLC DE boosted its position in Crexendo by 83.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 55,000 shares of the company’s stock valued at $288,000 after buying an additional 25,000 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Stock Down 1.3%

Shares of CXDO opened at $5.88 on Wednesday. The firm has a fifty day simple moving average of $5.08 and a two-hundred day simple moving average of $5.44. Crexendo, Inc. has a twelve month low of $2.92 and a twelve month high of $7.34. The stock has a market capitalization of $170.70 million, a P/E ratio of 196.07 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CXDO. Craig Hallum began coverage on shares of Crexendo in a research report on Monday, April 7th. They set a “buy” rating and a $8.00 price target for the company. 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, March 5th. Finally, D. Boral Capital reissued a “buy” rating and set a $10.00 price target on shares of Crexendo in a research report on Wednesday, May 7th.

Insider Transactions at Crexendo

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