Glenn Darrel Sanford, the CEO and Chairman of the Board of eXp World Holdings, Inc. (NASDAQ:EXPI), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Sanford sold 49,881 shares of common stock on December 3, 2024, at a weighted average price of $13.8689 per share. The sales occurred at prices ranging from $13.665 to $14.15, resulting in a total transaction value of approximately $691,794. The transaction price aligns closely with the current market value of EXPI shares, which trade at $13.90, giving the company a market capitalization of $2.14 billion.
Following this transaction, Sanford retains ownership of 40,339,199 shares of eXp World Holdings, Inc. The sales were conducted under a pre-arranged trading plan, as indicated by the filing. Sanford's role as both CEO and Chairman highlights the importance of these transactions for investors tracking insider activities at the real estate and construction company. While the company is currently not profitable over the last twelve months, analysts expect a return to profitability this year. InvestingPro analysis shows the stock trading near its Fair Value, with 17 additional key insights available to subscribers, including detailed profitability metrics and growth forecasts.
In other recent news, eXp World Holdings reported a slight increase in revenue to $1.231 billion in Q3 2024, representing a 2% year-over-year growth. The company also saw a 15% increase in adjusted EBITDA to $23.9 million. Despite facing challenges in the U.S. real estate market, eXp World Holdings experienced a remarkable 63% growth in its international sector revenue and announced plans to expand into Turkey, Peru, and Egypt in early 2025. However, an ongoing antitrust lawsuit led to an $18 million contingency provision, resulting in a GAAP net loss of $8.5 million for the company. Recent developments include the launch of homehunter.global and the acquisition of LUXVT to enhance luxury market offerings. Despite a 4% decrease in agent count, the company reported significant growth in North America through new initiatives and paid over $5 million in bonuses to agents. As per recent analyst notes, eXp World Holdings anticipates continued pressure on U.S. home sales in Q4, aligning with seasonal trends.
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