DA Davidson Has Lowered Expectations for Exp World (NASDAQ:EXPI) Stock Price

Exp World (NASDAQ:EXPI) had its price target lowered by equities research analysts at DA Davidson from $13.00 to $11.50 in a research note issued on Friday, Marketbeat.com reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target would suggest a potential upside of 53.13% from the stock’s previous close.

A number of other equities research analysts also recently commented on EXPI. Zacks Research raised Exp World from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Exp World in a research report on Monday, December 29th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

Exp World Stock Performance

Shares of EXPI opened at $7.51 on Friday. The stock has a 50-day moving average of $8.99 and a two-hundred day moving average of $10.16. Exp World has a one year low of $6.90 and a one year high of $12.23. The stock has a market cap of $1.19 billion, a P/E ratio of -62.58 and a beta of 2.12.

Insider Buying and Selling

In other news, 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 completion of the transaction, the director directly owned 487,190 shares of the company’s stock, valued at $5,456,528. The trade was a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Penny Sanford sold 117,179 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $12.04, for a total transaction of $1,410,835.16. Following the completion of the transaction, the insider owned 26,731,114 shares of the company’s stock, valued at approximately $321,842,612.56. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 27.96% of the company’s stock.

Institutional Trading of Exp World

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beacon Pointe Advisors LLC raised its position in shares of Exp World by 3.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 60,528 shares of the technology company’s stock worth $548,000 after acquiring an additional 2,106 shares during the period. XTX Topco Ltd purchased a new position in shares of Exp World in the 4th quarter valued at about $464,000. VARCOV Co. acquired a new position in Exp World in the 4th quarter worth about $178,000. Susquehanna Portfolio Strategies LLC purchased a new position in Exp World during the fourth quarter worth approximately $178,000. Finally, Twinbeech Capital LP purchased a new position in Exp World during the fourth quarter worth approximately $185,000. Institutional investors and hedge funds own 27.17% of the company’s stock.

Exp World Company Profile

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.