eXp World (NASDAQ:EXPI) Shares Gap Up Following Better-Than-Expected Earnings

eXp World Holdings, Inc. (NASDAQ:EXPI)’s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $11.34, but opened at $11.98. eXp World shares last traded at $10.46, with a volume of 269,473 shares changing hands.

The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. eXp World had a negative net margin of 0.74% and a positive return on equity of 2.27%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion.

Insider Transactions at eXp World

In other eXp World news, CEO Glenn Darrel Sanford sold 25,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.02, for a total value of $275,500.00. Following the completion of the sale, the chief executive officer now directly owns 39,928,400 shares of the company’s stock, valued at approximately $440,010,968. This represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 411,511 shares of company stock worth $5,086,061 in the last quarter. 35.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On eXp World

Several hedge funds have recently modified their holdings of EXPI. Pacer Advisors Inc. purchased a new stake in shares of eXp World during the fourth quarter valued at approximately $60,767,000. Baring Financial LLC purchased a new stake in shares of eXp World during the 4th quarter valued at $5,222,000. Vanguard Group Inc. raised its stake in shares of eXp World by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 12,235,835 shares of the technology company’s stock worth $140,834,000 after purchasing an additional 208,920 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of eXp World by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 727,096 shares of the technology company’s stock worth $8,369,000 after buying an additional 206,677 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in eXp World by 16.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,288,349 shares of the technology company’s stock valued at $18,153,000 after buying an additional 183,823 shares during the period. Institutional investors own 27.17% of the company’s stock.

eXp World Stock Down 7.7 %

The firm has a market cap of $1.61 billion, a P/E ratio of -47.59 and a beta of 2.29. The firm’s 50-day simple moving average is $11.43 and its 200 day simple moving average is $12.57.

eXp World Company Profile

eXp World Holdings, Inc, together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company operates through North American Realty, International Realty, Virbela, and Other Affiliated Services segments. It provides Virbela, a cloud-based technologies that provides data, lead generation, and marketing tools for real estate agents and employees.