eXp World Holdings CEO Glenn Sanford sells $187,714 in stock

Published 16/04/2025, 15:42
eXp World Holdings CEO Glenn Sanford sells $187,714 in stock

In a recent transaction, Glenn Darrel Sanford, CEO and Chairman of the Board at eXp World Holdings, Inc. (NASDAQ:EXPI), sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Sanford sold 20,000 shares of common stock on April 15, 2025, at a weighted average price of $9.3857 per share, totaling approximately $187,714. The company, currently valued at $1.4 billion, has shown resilience despite its stock being down about 19% year-to-date.

The shares were sold in multiple transactions at prices ranging from $9.235 to $9.60. Following this sale, Sanford retains ownership of 39,743,400 shares in the company. This transaction was executed under a pre-arranged 10b5-1 trading plan. According to InvestingPro analysis, while the stock has experienced significant volatility, management has been actively buying back shares, suggesting confidence in the company’s future prospects. Investors should note that EXPI’s next earnings report is scheduled for April 30, 2025.

eXp World Holdings is a real estate brokerage firm based in Bellingham, Washington, known for its cloud-based platform for real estate professionals. The company maintains strong liquidity with its current ratio of 1.44, and InvestingPro analysis indicates the stock is currently trading below its Fair Value.

In other recent news, eXp World Holdings reported a 12% increase in revenue for the fourth quarter, exceeding consensus estimates by 6%. The company’s adjusted EBITDA was $7.7 million, defying expectations of a $2 million loss, showcasing a stronger-than-anticipated financial performance. Meanwhile, DA Davidson reaffirmed a Neutral stance on eXp World Holdings, maintaining a price target of $13.50, noting concerns about agent retention despite solid financial results. Additionally, eXp World Holdings has amended its share repurchase plan, extending it through December 31, 2025, as per a recent SEC filing, although specific changes to the repurchase amounts were not disclosed.

eXp Realty, a subsidiary of eXp World Holdings, announced the launch of its Co-Sponsor Program to enhance agent growth by allowing new agents to select both a Primary Sponsor and a Co-Sponsor. The program aims to accelerate onboarding and expand the global agent base. In another development, eXp Realty added HGTV star Kortney Wilson to its roster, aiming to leverage her expertise in home renovation and design through its international network. Furthermore, eXp World Holdings announced the resignation of its Chief Accounting Officer, Jian (Kent) Cheng, effective March 31, 2025, with a transition plan in place as the company searches for a new Chief Financial Officer. These developments reflect eXp World Holdings’ strategic initiatives and ongoing adjustments in its management and operational strategies.

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