DA Davidson Raises eXp World (NASDAQ:EXPI) Price Target to $13.50

eXp World (NASDAQ:EXPI) had its price target upped by DA Davidson from $11.75 to $13.50 in a research report released on Thursday morning, Benzinga reports. DA Davidson currently has a neutral rating on the technology company’s stock.

Separately, BTIG Research raised shares of eXp World from a sell rating to a neutral rating in a report on Tuesday, July 23rd.

eXp World Price Performance

NASDAQ:EXPI traded down $0.12 during mid-day trading on Thursday, reaching $12.45. The stock had a trading volume of 517,589 shares, compared to its average volume of 1,076,972. The stock’s 50 day simple moving average is $11.85 and its two-hundred day simple moving average is $11.59. eXp World has a 1-year low of $8.91 and a 1-year high of $25.18. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -71.00 and a beta of 2.34.

eXp World (NASDAQ:EXPI) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). eXp World had a negative net margin of 0.52% and a negative return on equity of 0.56%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the firm earned $0.06 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that eXp World will post 0.18 EPS for the current fiscal year.

eXp World Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, August 14th. eXp World’s dividend payout ratio is presently -117.64%.

Insiders Place Their Bets

In related news, CEO Glenn Darrel Sanford sold 40,000 shares of eXp World stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $14.48, for a total transaction of $579,200.00. Following the completion of the sale, the chief executive officer now directly owns 41,170,297 shares of the company’s stock, valued at approximately $596,145,900.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 334,783 shares of company stock valued at $4,253,940 in the last 90 days. 35.70% of the stock is currently owned by insiders.

Institutional Trading of eXp World

Several large investors have recently modified their holdings of EXPI. SRS Capital Advisors Inc. grew its holdings in eXp World by 354.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,974 shares of the technology company’s stock worth $31,000 after buying an additional 1,540 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of eXp World in the fourth quarter worth $31,000. Pineridge Advisors LLC bought a new position in shares of eXp World in the fourth quarter valued at approximately $33,000. International Assets Investment Management LLC purchased a new position in shares of eXp World during the 4th quarter valued at $48,000. Finally, Blue Trust Inc. raised its holdings in shares of eXp World by 201.3% in the 4th quarter. Blue Trust Inc. now owns 2,926 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,955 shares in the last quarter. Institutional investors and hedge funds 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.