Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Acquires $18,848.55 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 12,999 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average cost of $1.45 per share, with a total value of $18,848.55. Following the transaction, the insider now directly owns 9,716,363 shares in the company, valued at approximately $14,088,726.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Expensify Price Performance

NASDAQ:EXFY remained flat at $1.49 during midday trading on Friday. The company had a trading volume of 7,167,205 shares, compared to its average volume of 630,528. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $8.25. The company has a market cap of $128.87 million, a P/E ratio of -3.10 and a beta of 1.46. The company’s 50 day moving average price is $1.59 and its 200-day moving average price is $1.81.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The firm had revenue of $33.50 million for the quarter, compared to analyst estimates of $35.56 million. During the same period last year, the firm earned ($0.07) earnings per share. Expensify’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Expensify, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EXFY. Quadrature Capital Ltd bought a new stake in Expensify during the first quarter worth about $65,000. Acadian Asset Management LLC raised its holdings in Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after purchasing an additional 129,689 shares during the period. Vanguard Group Inc. raised its holdings in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after purchasing an additional 476,687 shares during the period. Palogic Value Management L.P. raised its holdings in shares of Expensify by 33.3% during the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after acquiring an additional 200,000 shares during the period. Finally, Azora Capital LP acquired a new stake in shares of Expensify during the fourth quarter worth $61,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on EXFY shares. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Citigroup decreased their target price on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, JMP Securities reissued a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Expensify presently has an average rating of “Hold” and a consensus price target of $4.20.

About Expensify

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.