BELLINGHAM, WA—Glenn Darrel Sanford, the CEO and Chairman of the Board of eXp World Holdings, Inc. (NASDAQ:EXPI), a $1.75 billion market cap real estate services company with annual revenues exceeding $4.4 billion, recently sold 25,000 shares of the company’s common stock. The transaction, which took place on January 21, 2025, was executed at a weighted average price of $11.4362 per share, resulting in a total sale value of approximately $285,905.
The shares were sold in multiple transactions at prices ranging from $11.22 to $11.63. Following this sale, Sanford holds 40,097,450 shares directly.
eXp World Holdings is known for its work in real estate services, and these transactions are part of the regular trading activities of its senior executives. For deeper insights into insider trading patterns and 15+ additional ProTips, explore the comprehensive analysis available on InvestingPro.
In other recent news, eXp World Holdings has been active with significant developments. The company recently announced a $34 million settlement to resolve a national class action lawsuit. This settlement, which is still subject to court approval, is expected to result in a pre-tax charge of $34 million, impacting the company’s financial statements.
eXp World Holdings also reported a slight growth in revenue to $1.231 billion in Q3 2024, a 2% year-over-year increase. The adjusted EBITDA also rose by 15%, reaching $23.9 million. However, due to an $18 million contingency provision for an ongoing antitrust lawsuit, the company faced a GAAP net loss of $8.5 million.
In a significant move, eXp sold key assets from its Virbela software platform to Virbela LLC, a company owned by eXp’s former Co-Founder and President Alex Howland and Co-Founder and Vice President, Engineering, Erik Hill. Additionally, the Board of Directors approved a Ninth Amendment to the company’s stock repurchase plan, adjusting the monthly repurchase amounts through the end of 2025.
Despite challenges in the U.S. real estate market, eXp experienced a significant 63% growth in its international sector’s revenue and plans to expand into Turkey, Peru, and Egypt in early 2025. The company also launched homehunter.global and acquired LUXVT to enhance its luxury market offerings. Despite a 4% decrease in agent count, eXp remains optimistic about future growth opportunities in the real estate market. These are some of the recent developments at eXp World Holdings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.