eXp World (NASDAQ:EXPI) Given New $13.50 Price Target at DA Davidson

eXp World (NASDAQ:EXPI) had its price target boosted by DA Davidson from $11.75 to $13.50 in a research report report published on Thursday, Benzinga reports. They currently have 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 Stock Performance

Shares of EXPI traded down $0.27 during mid-day trading on Thursday, hitting $12.57. 1,568,576 shares of the company’s stock were exchanged, compared to its average volume of 1,152,867. The stock’s 50-day moving average is $11.85 and its 200-day moving average is $11.60. eXp World has a fifty-two week low of $8.91 and a fifty-two week high of $25.24. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -73.94 and a beta of 2.34.

eXp World (NASDAQ:EXPI) last released its earnings results on Wednesday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. eXp World had a negative return on equity of 0.56% and a negative net margin of 0.52%. eXp World’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. As a group, equities research analysts anticipate that eXp World will post 0.18 EPS for the current year.

eXp World Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, August 14th. eXp World’s dividend payout ratio (DPR) is presently -117.64%.

Insiders Place Their Bets

In other news, CEO Glenn Darrel Sanford sold 25,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $10.92, for a total value of $273,000.00. Following the transaction, the chief executive officer now owns 41,513,393 shares in the company, valued at approximately $453,326,251.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 334,783 shares of company stock valued at $4,253,940 in the last ninety days. Insiders own 35.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in eXp World by 4.7% in the second quarter. Rhumbline Advisers now owns 223,543 shares of the technology company’s stock valued at $2,523,000 after acquiring an additional 9,979 shares during the last quarter. nVerses Capital LLC increased its position in shares of eXp World by 102.2% during the second quarter. nVerses Capital LLC now owns 9,100 shares of the technology company’s stock worth $103,000 after purchasing an additional 4,600 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of eXp World by 8.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 23,896 shares of the technology company’s stock valued at $270,000 after purchasing an additional 1,768 shares during the last quarter. Financial Advocates Investment Management acquired a new stake in shares of eXp World in the 2nd quarter valued at about $117,000. Finally, Bank of New York Mellon Corp grew its stake in eXp World by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 710,428 shares of the technology company’s stock worth $8,017,000 after buying an additional 36,569 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

eXp World Company Profile

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.