eXp World (NASDAQ:EXPI) Stock Price Down 4% Following Insider Selling

Shares of eXp World Holdings, Inc. (NASDAQ:EXPI) traded down 4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $12.86 and last traded at $12.89. 121,126 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,036,464 shares. The stock had previously closed at $13.43.

Specifically, CEO Glenn Darrel Sanford sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $13.41, for a total value of $536,400.00. Following the transaction, the chief executive officer now owns 40,709,780 shares in the company, valued at $545,918,149.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research upgraded eXp World from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 23rd. DA Davidson boosted their target price on shares of eXp World from $11.75 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

eXp World Trading Down 3.5 %

The stock has a fifty day moving average price of $12.97 and a 200 day moving average price of $11.90. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -76.24 and a beta of 2.30.

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

eXp World Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Wednesday, August 14th. eXp World’s dividend payout ratio is currently -117.65%.

Hedge Funds Weigh In On eXp World

A number of institutional investors have recently made changes to their positions in EXPI. Millennium Management LLC lifted its holdings in shares of eXp World by 91.7% during the second quarter. Millennium Management LLC now owns 1,377,365 shares of the technology company’s stock worth $15,544,000 after buying an additional 659,012 shares during the last quarter. Vident Advisory LLC boosted its holdings in eXp World by 594.0% in the 1st quarter. Vident Advisory LLC now owns 289,831 shares of the technology company’s stock valued at $2,994,000 after purchasing an additional 248,070 shares during the period. Nordea Investment Management AB grew its position in eXp World by 49.3% in the 1st quarter. Nordea Investment Management AB now owns 412,393 shares of the technology company’s stock worth $4,326,000 after purchasing an additional 136,151 shares during the last quarter. Vanguard Group Inc. grew its position in eXp World by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,109,705 shares of the technology company’s stock worth $125,093,000 after purchasing an additional 107,303 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of eXp World by 6.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,803,116 shares of the technology company’s stock worth $20,348,000 after purchasing an additional 101,600 shares during the period. 27.17% of the stock is currently owned by institutional investors.

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.