Acadian Asset Management LLC Boosts Holdings in Crexendo, Inc. (NASDAQ:CXDO)

Acadian Asset Management LLC increased its position in shares of Crexendo, Inc. (NASDAQ:CXDO) by 73.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 218,345 shares of the company’s stock after buying an additional 92,196 shares during the quarter. Acadian Asset Management LLC owned about 0.82% of Crexendo worth $685,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CXDO. Simplicity Wealth LLC purchased a new stake in Crexendo in the first quarter valued at $53,000. SG Americas Securities LLC acquired a new stake in shares of Crexendo during the 1st quarter worth about $55,000. Heron Bay Capital Management purchased a new stake in Crexendo in the 1st quarter valued at about $87,000. Hillsdale Investment Management Inc. acquired a new position in Crexendo in the fourth quarter valued at about $108,000. Finally, Bailard Inc. purchased a new position in Crexendo during the second quarter worth about $113,000. 9.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Crexendo news, insider Anand Buch sold 7,701 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $5.29, for a total transaction of $40,738.29. Following the sale, the insider now owns 548,139 shares in the company, valued at approximately $2,899,655.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Crexendo news, insider Anand Buch sold 7,701 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $5.29, for a total value of $40,738.29. Following the sale, the insider now directly owns 548,139 shares of the company’s stock, valued at approximately $2,899,655.31. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO David Tzat-Kin Wang sold 20,500 shares of Crexendo stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.25, for a total transaction of $107,625.00. Following the sale, the chief technology officer now directly owns 439,327 shares of the company’s stock, valued at $2,306,466.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,903 shares of company stock worth $545,862. Corporate insiders own 56.20% of the company’s stock.

Analyst Ratings Changes

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

Crexendo Price Performance

CXDO opened at $4.60 on Wednesday. The stock’s 50-day moving average price is $4.45 and its 200 day moving average price is $4.22. Crexendo, Inc. has a 12-month low of $1.54 and a 12-month high of $7.59. The firm has a market cap of $122.82 million, a price-to-earnings ratio of 92.00 and a beta of 1.19. The company has a current ratio of 2.10, a quick ratio of 2.04 and a debt-to-equity ratio of 0.01.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Crexendo had a net margin of 4.89% and a return on equity of 12.86%. The business had revenue of $14.69 million during the quarter, compared to analyst estimates of $14.18 million. As a group, sell-side analysts expect that Crexendo, Inc. will post 0.14 earnings per share for the current year.

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.