DA Davidson Issues Pessimistic Forecast for Exp World (NASDAQ:EXPI) Stock Price

Exp World (NASDAQ:EXPI) had its price target dropped by analysts at DA Davidson from $13.00 to $11.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective indicates a potential upside of 54.16% from the stock’s previous close.

Several other research firms also recently issued reports on EXPI. Weiss Ratings restated a “sell (d+)” rating on shares of Exp World in a report on Monday, December 29th. Zacks Research raised shares of Exp World from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.50.

Exp World Price Performance

Shares of EXPI stock opened at $7.46 on Friday. The stock’s fifty day moving average price is $9.05 and its 200 day moving average price is $10.18. Exp World has a 1-year low of $6.90 and a 1-year high of $12.23. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -62.16 and a beta of 2.12.

Insider Buying and Selling

In other Exp World news, major shareholder Penny Sanford sold 117,179 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $12.04, for a total value of $1,410,835.16. Following the sale, the insider owned 26,731,114 shares in the company, valued at approximately $321,842,612.56. This represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Randall D. Miles sold 10,000 shares of Exp World stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $11.20, for a total transaction of $112,000.00. Following the transaction, the director directly owned 487,190 shares of the company’s stock, valued at approximately $5,456,528. This trade represents a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 27.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Exp World by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 14,113,222 shares of the technology company’s stock valued at $127,725,000 after acquiring an additional 690,694 shares during the period. State Street Corp increased its position in shares of Exp World by 4.6% in the fourth quarter. State Street Corp now owns 3,299,012 shares of the technology company’s stock valued at $29,856,000 after buying an additional 145,657 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Exp World by 73.3% during the 2nd quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company’s stock worth $29,934,000 after buying an additional 1,391,582 shares during the period. Renaissance Technologies LLC raised its stake in shares of Exp World by 4.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,656,716 shares of the technology company’s stock worth $24,043,000 after buying an additional 116,900 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Exp World by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,418,531 shares of the technology company’s stock valued at $21,891,000 after buying an additional 38,134 shares in the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

About Exp World

eXp World Holdings, Inc (NASDAQ: EXPI) is a cloud-based real estate company that operates a global brokerage model through its eXp Realty subsidiary. Founded in 2009 by industry veteran Glenn Sanford and headquartered in Bellingham, Washington, the company leverages a virtual business environment to connect and support real estate professionals. eXp Realty’s technology-driven platform enables licensed agents to list, show and manage residential property transactions without the overhead of traditional brick-and-mortar offices.

At the core of eXp World’s offering is its proprietary virtual campus, which provides real-time training, collaboration and networking via an immersive online environment.