Principal Financial Group Inc. Cuts Position in eXp World Holdings, Inc. (NASDAQ:EXPI)

Principal Financial Group Inc. lessened its stake in eXp World Holdings, Inc. (NASDAQ:EXPI) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,262 shares of the technology company’s stock after selling 14,767 shares during the quarter. Principal Financial Group Inc. owned 0.25% of eXp World worth $4,348,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EXPI. Scarborough Advisors LLC purchased a new position in shares of eXp World in the 4th quarter valued at about $31,000. Pineridge Advisors LLC purchased a new position in shares of eXp World in the 4th quarter valued at about $33,000. Precision Wealth Strategies LLC purchased a new position in shares of eXp World in the 1st quarter valued at about $113,000. PNC Financial Services Group Inc. increased its holdings in shares of eXp World by 29.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,481 shares of the technology company’s stock valued at $116,000 after purchasing an additional 1,681 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new position in shares of eXp World in the 2nd quarter valued at about $117,000. Hedge funds and other institutional investors own 27.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EXPI. BTIG Research upgraded shares of eXp World from a “sell” rating to a “neutral” rating in a report on Tuesday, July 23rd. DA Davidson raised their target price on shares of eXp World from $11.75 to $13.50 and gave the company a “neutral” rating in a report on Thursday, August 1st.

eXp World Price Performance

eXp World stock opened at $12.64 on Wednesday. eXp World Holdings, Inc. has a 12-month low of $8.91 and a 12-month high of $19.37. The stock has a market capitalization of $1.94 billion, a P/E ratio of -74.35 and a beta of 2.30. The firm’s 50-day moving average is $12.57 and its two-hundred day moving average is $11.56.

eXp World (NASDAQ:EXPI) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). eXp World had a negative return on equity of 0.56% and a negative net margin of 0.52%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the business earned $0.06 earnings per share. eXp World’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts forecast that eXp World Holdings, Inc. will post 0.09 EPS for the current year.

eXp World Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. eXp World’s dividend payout ratio is presently -117.64%.

Insider Buying and Selling

In related news, CEO Glenn Darrel Sanford sold 26,630 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.82, for a total value of $314,766.60. Following the sale, the chief executive officer now directly owns 40,943,667 shares of the company’s stock, valued at $483,954,143.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 499,055 shares of company stock valued at $6,349,022. Insiders own 35.70% of the company’s stock.

About eXp World

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.