In a recent transaction, Jon Brinton, the Chief Revenue Officer of Crexendo , Inc. (NASDAQ:CXDO), purchased 1,000 shares of the company's common stock. The transaction, which took place on May 23, 2024, saw Brinton acquiring the shares at a price of $3.51 each, amounting to a total investment of $3,510.
This purchase by a key executive is always a point of interest for investors and market watchers, as it reflects the confidence that insiders may have in the company's future prospects. Following the transaction, Brinton now directly owns a total of 94,406 shares in Crexendo, Inc.
Crexendo, based in Tempe, Arizona, operates in the telecommunications sector, providing a variety of services. The company has a history that includes a former name change from iMergent Inc to Crexendo, Inc. and is incorporated in Delaware.
Investors often keep an eye on insider transactions, such as this one by Brinton, for insights into how the company's top executives view the stock's valuation and potential. The details of these transactions are made available to the public through regulatory filings, which provide transparency and allow stakeholders to stay informed about significant insider trades.
InvestingPro Insights
Following Jon Brinton's recent stock purchase, investors might be curious about Crexendo, Inc.'s (NASDAQ:CXDO) financial health and future prospects. A glimpse into the company's real-time data and InvestingPro Tips could provide valuable context to Brinton's confidence in the company.
According to InvestingPro, Crexendo holds more cash than debt on its balance sheet, which suggests a stable financial position. Additionally, analysts predict the company will be profitable this year, aligning with the positive sentiment reflected in the insider transaction.
InvestingPro Data indicates Crexendo has a market capitalization of $92.13 million, and despite a high P/E ratio of 60.71, the company has shown a significant revenue growth of 31.29% over the last twelve months as of Q1 2024. Moreover, the stock has experienced a high return over the last year with a 101.56% price total return, which may catch the eye of long-term investors.
For those interested in a deeper analysis, InvestingPro offers additional insights on Crexendo, Inc., including tips on near-term earnings growth and valuation multiples. There are currently 12 more InvestingPro Tips available for Crexendo which can be accessed at: https://www.investing.com/pro/CXDO. These tips could help investors make more informed decisions and potentially spot opportunities that align with their investment strategies.
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