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In a recent transaction, Anand Buch, Chief Strategy Officer of Crexendo , Inc. (OTCMKTS:NASDAQ:CXDO), sold shares of the company's stock valued at approximately $144,843. The sale occurred on August 22, 2024, with the shares being sold at prices ranging from $5.01 to $5.02, averaging at $5.0119 per share.
The transaction involved the sale of 28,900 shares of common stock. Following this sale, Buch's direct holdings in Crexendo decreased to 548,139 shares. This move is part of a series of transactions that took place on the same day, which also included the acquisition of shares.
On the same date, Buch exercised options to acquire an equal number of shares, 28,900, at a price of $0.91 per share, totaling $26,299. This transaction was related to non-qualified stock options that were due to expire on March 11, 2026. The exercise of these options and the subsequent sale of shares resulted in a net decrease in Buch's ownership in Crexendo's common stock.
Crexendo, Inc., headquartered in Tempe, Arizona, operates in the telecommunications sector, providing cloud-based solutions, including communication and collaboration services for businesses.
Investors often monitor insider transactions as they can provide insights into how the company's executives view the stock's value and future prospects. The details of these transactions are publicly disclosed to ensure transparency and to comply with regulations.
In other recent news, Crexendo, Inc. has reported robust financial performance for the second quarter of 2024, with a 16% year-over-year increase in revenues to $14.7 million, and a notable 220% surge in net income. This marks the fourth consecutive quarter of GAAP profitability for the company. Analysts note that these results have exceeded both internal forecasts and their expectations, indicating a strong growth trajectory for Crexendo. The company is investing in Oracle (NYSE:ORCL) cloud infrastructure and NetSuite, with its Software Solutions division experiencing rapid growth of 35%. Crexendo also expects double-digit organic revenue growth for the full year, exceeding 10%, and has a strong backlog with $20.245 million remaining for 2024. Despite caution about high acquisition multiples in the current market, the company remains optimistic about international expansion, particularly in Europe.
InvestingPro Insights
Crexendo Inc. (OTCMKTS:CXDO) has been displaying some noteworthy financial metrics that may be of interest to investors following the recent insider transactions. According to InvestingPro data, Crexendo boasts a market capitalization of $133.84 million, reflecting the company's current valuation in the market. Additionally, the company's Price-to-Earnings (P/E) ratio stands at 46.7, indicating how much investors are willing to pay for a dollar of earnings. This is particularly relevant when considering the company's net income is expected to grow this year, as per an InvestingPro Tip.
The PEG ratio, which measures the P/E ratio relative to the growth rate of the company's earnings, is at a low 0.45 for the last twelve months as of Q2 2024. This suggests that Crexendo's stock may be undervalued relative to its earnings growth, a point that is further supported by another InvestingPro Tip highlighting the company's trading at a low P/E ratio in comparison to near-term earnings growth.
Investors should also note that Crexendo's revenue has grown by 24.72% over the last twelve months as of Q2 2024, signifying a robust increase in the company's top-line performance. This aligns with the company's strong return over the last year, with a 178.38% price total return, which is a critical metric for evaluating stock performance.
For those interested in more in-depth analysis and additional insights, there are 12 more InvestingPro Tips available for Crexendo Inc., which can be found at: https://www.investing.com/pro/CXDO. These tips could provide further clarity on the company's financial health and future outlook, helping investors make more informed decisions.
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