DA Davidson Cuts Exp World (NASDAQ:EXPI) Price Target to $11.50

Exp World (NASDAQ:EXPI) had its target price reduced by DA Davidson from $13.00 to $11.50 in a report released on Friday morning, MarketBeat reports. DA Davidson currently has a buy rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Zacks Research raised Exp World from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Exp World in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exp World currently has a consensus rating of “Hold” and an average target price of $11.50.

Exp World Price Performance

EXPI opened at $7.51 on Friday. Exp World has a fifty-two week low of $6.90 and a fifty-two week high of $12.23. The firm has a market capitalization of $1.19 billion, a PE ratio of -62.58 and a beta of 2.12. The company’s 50-day moving average is $8.99 and its 200 day moving average is $10.16.

Insider Activity

In other Exp World news, major shareholder Penny Sanford sold 117,179 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $12.04, for a total value of $1,410,835.16. Following the transaction, the insider directly owned 26,731,114 shares in the company, valued at $321,842,612.56. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Randall D. Miles sold 10,000 shares of the 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 $5,456,528. This 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 Trading of Exp World

A number of large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in Exp World by 60.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 592,305 shares of the technology company’s stock worth $6,314,000 after acquiring an additional 223,128 shares during the last quarter. Intech Investment Management LLC boosted its position in Exp World by 81.3% during the second quarter. Intech Investment Management LLC now owns 214,277 shares of the technology company’s stock worth $1,950,000 after purchasing an additional 96,120 shares during the period. Principal Financial Group Inc. boosted its position in Exp World by 26.3% during the third quarter. Principal Financial Group Inc. now owns 537,545 shares of the technology company’s stock worth $5,730,000 after purchasing an additional 111,963 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of Exp World by 118.4% in the second quarter. Texas Permanent School Fund Corp now owns 187,039 shares of the technology company’s stock worth $1,702,000 after purchasing an additional 101,397 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Exp World by 199.5% during the 2nd quarter. AlphaQuest LLC now owns 51,420 shares of the technology company’s stock valued at $468,000 after buying an additional 34,252 shares in the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.

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.