Renaissance Technologies LLC Grows Stock Holdings in Crexendo, Inc. (NASDAQ:CXDO)

Renaissance Technologies LLC grew its stake in shares of Crexendo, Inc. (NASDAQ:CXDO) by 229.9% during the second quarter, HoldingsChannel reports. The firm owned 364,565 shares of the company’s stock after purchasing an additional 254,065 shares during the quarter. Renaissance Technologies LLC’s holdings in Crexendo were worth $1,147,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CXDO. SG Americas Securities LLC bought a new stake in Crexendo during the first quarter worth about $55,000. Vanguard Group Inc. raised its holdings in shares of Crexendo by 7.2% during the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock valued at $2,193,000 after purchasing an additional 30,646 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Crexendo during the first quarter valued at approximately $605,000. Heron Bay Capital Management purchased a new position in shares of Crexendo during the first quarter valued at approximately $87,000. Finally, Bailard Inc. purchased a new position in shares of Crexendo during the second quarter valued at approximately $113,000. Institutional investors own 9.53% of the company’s stock.

Crexendo Trading Up 5.0 %

Shares of CXDO opened at $4.64 on Friday. The company has a market cap of $123.89 million, a P/E ratio of 92.80 and a beta of 1.18. Crexendo, Inc. has a twelve month low of $1.54 and a twelve month high of $7.59. The company’s fifty day simple moving average is $4.62 and its 200-day simple moving average is $4.16. 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 results on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $14.69 million for the quarter, compared to the consensus estimate of $14.18 million. Crexendo had a net margin of 4.89% and a return on equity of 12.86%. As a group, analysts expect that Crexendo, Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other Crexendo news, CTO David Tzat-Kin Wang sold 8,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $5.00, for a total transaction of $44,000.00. Following the completion of the transaction, the chief technology officer now directly owns 439,327 shares of the company’s stock, valued at approximately $2,196,635. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Crexendo news, insider Anand Buch sold 28,900 shares of Crexendo stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $5.01, for a total transaction of $144,789.00. Following the sale, the insider now owns 548,139 shares of the company’s stock, valued at $2,746,176.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 8,800 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $5.00, for a total transaction of $44,000.00. Following the transaction, the chief technology officer now directly owns 439,327 shares in the company, valued at approximately $2,196,635. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,903 shares of company stock worth $545,862. Corporate insiders own 56.20% of the company’s stock.

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.