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Sanford, who holds significant roles as director, officer, and a ten percent owner, continues to maintain a substantial stake in eXp World Holdings (NASDAQ:EXPI), a company known for its innovative real estate solutions. With a market capitalization of $1.81 billion and its next earnings report due February 20, investors can access comprehensive analysis and 14+ additional key insights through InvestingPro’s detailed research reports. With a market capitalization of $1.81 billion and its next earnings report due February 20, investors can access comprehensive analysis and 14+ additional key insights through InvestingPro’s detailed research reports.
The transactions occurred on January 28, 2025. Following this sale, Sanford retains ownership of 40,072,450 shares in the company. The shares were sold in multiple transactions at prices ranging from $11.18 to $11.87. InvestingPro analysis reveals the company maintains a strong balance sheet with more cash than debt, while management has been actively buying back shares.
Sanford, who holds significant roles as director, officer, and a ten percent owner, continues to maintain a substantial stake in eXp World Holdings, a company known for its innovative real estate solutions.
In other recent news, eXp World Holdings has agreed to a $34 million settlement to resolve a national class action lawsuit, according to a recent 8-K filing with the Securities and Exchange Commission. The company also reported a slight growth in revenue to $1.231 billion in Q3 2024, a 2% year-over-year increase. Adjusted EBITDA rose by 15%, reaching $23.9 million. However, eXp World Holdings faced a GAAP net loss of $8.5 million due to an $18 million contingency provision for an ongoing antitrust lawsuit.
In a strategic move, eXp World Holdings 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. The company also approved a Ninth Amendment to its 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. These are some of the recent developments in the company.
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