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BELLINGHAM, WA—Glenn Darrel Sanford, CEO and Chairman of the Board at eXp World Holdings, Inc. (NASDAQ:EXPI), has recently sold a significant portion of his shares in the company. According to a recent SEC filing, Sanford sold 50,000 shares of common stock on November 18, 2024, at an average price of $12.716 per share. The total transaction amounted to approximately $635,800.
Following this transaction, Sanford retains ownership of 40,439,080 shares. The shares were sold in multiple transactions, with prices ranging from $12.46 to $13.10 per share. Sanford, who holds a position as a director, officer, and ten percent owner, continues to maintain a substantial stake in the company.
eXp World Holdings, a real estate company based in Bellingham, WA, has been experiencing dynamic market activities, with Sanford's recent stock sale being a noteworthy development for investors to consider.
In other recent news, eXp World Holdings reported a slight 2% year-over-year revenue increase to $1.231 billion in Q3 2024, along with a 15% rise in adjusted EBITDA. Despite a challenging U.S. real estate market, the company saw a significant 63% revenue growth in its international sector, leading to expansion plans into Turkey, Peru, and Egypt in early 2025. However, a GAAP net loss of $8.5 million was reported, primarily due to an $18 million contingency provision for an ongoing antitrust lawsuit. The company also launched homehunter.global and acquired LUXVT to enhance luxury market offerings, while agent productivity improvements and higher home sales prices contributed to the revenue growth. On the downside, the company expects continued pressure on U.S. home sales in Q4, aligning with seasonal trends. Meanwhile, the agent count decreased by 4%, reflecting strategic offboarding of unproductive agents. Despite these recent developments, eXp World Holdings remains optimistic about future growth opportunities in the real estate market.
InvestingPro Insights
While Glenn Darrel Sanford's recent sale of 50,000 shares might raise eyebrows, it's important to contextualize this move within eXp World Holdings' broader financial landscape. According to InvestingPro data, the company's market capitalization stands at $1.92 billion, reflecting its significant presence in the Real Estate Management & Development industry.
Despite the CEO's stock sale, there are positive indicators for eXp World Holdings. An InvestingPro Tip highlights that management has been aggressively buying back shares, which could signal confidence in the company's future prospects. This buyback strategy aligns with the company's shareholder-friendly approach, further evidenced by another InvestingPro Tip noting that eXp has raised its dividend for four consecutive years.
The company's financial health appears robust, with InvestingPro data showing a dividend yield of 1.6% as of the most recent ex-dividend date on November 18, 2024. Additionally, eXp World Holdings holds more cash than debt on its balance sheet, suggesting a strong liquidity position.
However, investors should note that the stock has experienced volatility, with a one-week price total return of -13.64% and a year-to-date return of -18.09%. This volatility is reflected in an InvestingPro Tip indicating that the stock price movements are quite volatile.
For those seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for eXp World Holdings, providing deeper insights into the company's financial health and market position.
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