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

eXp World Holdings, Inc. (NASDAQ:EXPI) shares fell 4% 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 were traded 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 eXp World stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $13.41, for a total value of $536,400.00. Following the completion of the sale, the chief executive officer now directly owns 40,709,780 shares in the company, valued at $545,918,149.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EXPI. DA Davidson increased their price target 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. BTIG Research upgraded eXp World from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 23rd.

eXp World Stock Down 3.9 %

The firm has a market cap of $2.00 billion, a PE ratio of -76.06 and a beta of 2.30. The firm’s fifty day simple moving average is $12.97 and its two-hundred day simple moving average is $11.90.

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

eXp World Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 14th were paid a $0.05 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.20 annualized dividend and a yield of 1.55%. eXp World’s payout ratio is -117.65%.

Institutional Investors Weigh In On eXp World

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its stake in eXp World by 91.7% during the second quarter. Millennium Management LLC now owns 1,377,365 shares of the technology company’s stock valued at $15,544,000 after acquiring an additional 659,012 shares in the last quarter. Vident Advisory LLC grew its position in shares of eXp World by 594.0% during the first 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 in the last quarter. Nordea Investment Management AB lifted its position in shares of eXp World by 49.3% in the first quarter. Nordea Investment Management AB now owns 412,393 shares of the technology company’s stock worth $4,326,000 after buying an additional 136,151 shares in the last quarter. Vanguard Group Inc. boosted its stake in eXp World by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,109,705 shares of the technology company’s stock valued at $125,093,000 after buying an additional 107,303 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in eXp World by 6.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,803,116 shares of the technology company’s stock valued at $20,348,000 after buying an additional 101,600 shares in the last quarter. Institutional investors own 27.17% 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.