Cheng Jian, the Chief Accounting Officer at eXp World Holdings, Inc. (NASDAQ:EXPI), recently sold 18,750 shares of common stock, totaling approximately $258,879. The shares were sold at an average price of $13.81, with the transactions occurring on November 22, 2024. Following the sale, Jian holds no shares of the company.
Additionally, Jian acquired 18,750 shares through stock options at a price of $4.13 per share, aligning with the exercise of stock options. The acquired shares were subsequently sold, as reflected in the recent transactions.
In other recent news, eXp World Holdings reported a modest 2% revenue increase to $1.231 billion in Q3 2024 during their earnings call. The company also saw a 15% increase in adjusted EBITDA, rising to $23.9 million. Despite facing market challenges in the U.S., eXp World Holdings experienced a substantial 63% revenue growth in its international sector. Plans are underway to extend its reach 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 quarter. Furthermore, the company launched homehunter.global and acquired LUXVT to enhance its luxury market offerings. Despite a 4% decrease in agent count, new initiatives and higher home sales prices have contributed to revenue growth. These recent developments reflect the company's strategic approach to navigate the complexities of the global real estate market.
InvestingPro Insights
The recent insider transaction at eXp World Holdings, Inc. (NASDAQ:EXPI) comes at a time when the company's stock has shown significant momentum. According to InvestingPro data, EXPI has experienced a strong 14.99% return over the past week and a 12.63% return over the last month. This positive trend aligns with one of the InvestingPro Tips, which highlights the company's "significant return over the last week."
Despite the recent insider sale, it's worth noting that EXPI's management has been actively engaged in share repurchases. An InvestingPro Tip reveals that "management has been aggressively buying back shares," which could be interpreted as a sign of confidence in the company's future prospects.
From a financial perspective, EXPI's balance sheet appears solid. The company "holds more cash than debt on its balance sheet," according to another InvestingPro Tip. This strong liquidity position is further supported by the fact that EXPI's "liquid assets exceed short term obligations," providing financial flexibility in a dynamic real estate market.
For investors seeking more comprehensive insights, InvestingPro offers 18 additional tips on EXPI, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.