eXp World Holdings, Inc. (NASDAQ:EXPI - Get Free Report) shares gapped up prior to trading 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.
The technology company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. eXp World had a negative net margin of 0.74% and a positive return on equity of 2.27%.
In other eXp World news, CEO Glenn Darrel Sanford sold 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.41, for a total transaction of $720,500.00. Following the completion of the sale, the chief executive officer now owns 40,389,080 shares of the company's stock, valued at approximately $582,006,642.80. This represents a 0.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 411,511 shares of company stock worth $5,086,061 over the last three months. Company insiders own 35.70% of the company's stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in eXp World in the third quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in shares of eXp World in the 4th quarter valued at about $32,000. Point72 Hong Kong Ltd bought a new stake in shares of eXp World during the 3rd quarter valued at about $34,000. Graney & King LLC acquired a new stake in eXp World during the fourth quarter worth approximately $58,000. Finally, Sims Investment Management LLC bought a new stake in eXp World in the fourth quarter worth approximately $121,000. Institutional investors and hedge funds own 27.17% of the company's stock.
The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of -47.59 and a beta of 2.29. The company has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $12.57.
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.
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