Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 16,630 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 16,630 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $1.49, for a total value of $24,778.70. Following the completion of the sale, the chief executive officer now directly owns 1,873,037 shares in the company, valued at approximately $2,790,825.13. The sale was disclosed in a legal filing with the SEC, which is available through this link.

David Michael Barrett also recently made the following trade(s):

• On Monday, July 1st, David Michael Barrett sold 16,200 shares of Expensify stock. The shares were sold at an average price of $1.53, for a total value of $24,786.00.
• On Wednesday, June 26th, David Michael Barrett sold 16,300 shares of Expensify stock. The shares were sold at an average price of $1.51, for a total value of $24,613.00.
• On Monday, June 24th, David Michael Barrett sold 16,860 shares of Expensify stock. The shares were sold at an average price of $1.46, for a total value of $24,615.60.
• On Thursday, June 20th, David Michael Barrett sold 18,430 shares of Expensify stock. The shares were sold at an average price of $1.32, for a total value of $24,327.60.
• On Monday, June 17th, David Michael Barrett sold 11,072 shares of Expensify stock. The shares were sold at an average price of $1.34, for a total value of $14,836.48.
• On Friday, June 14th, David Michael Barrett sold 17,740 shares of Expensify stock. The shares were sold at an average price of $1.38, for a total value of $24,481.20.
• On Wednesday, June 12th, David Michael Barrett sold 16,970 shares of Expensify stock. The shares were sold at an average price of $1.45, for a total value of $24,606.50.
• On Monday, June 10th, David Michael Barrett sold 17,110 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,638.40.
• On Friday, June 7th, David Michael Barrett sold 16,780 shares of Expensify stock. The shares were sold at an average price of $1.47, for a total value of $24,666.60.
• On Wednesday, June 5th, David Michael Barrett sold 17,060 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,566.40.

Expensify Price Performance

Shares of EXFY stock traded down $0.06 on Tuesday, reaching $1.50. 204,705 shares of the stock were exchanged, compared to its average volume of 624,806. The stock has a market cap of $129.74 million, a PE ratio of -3.15 and a beta of 1.47. Expensify, Inc. has a one year low of $1.24 and a one year high of $8.25. The stock has a 50 day moving average price of $1.58 and a 200 day moving average price of $1.79.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EXFY shares. JMP Securities reiterated a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. Citigroup cut their price objective 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, Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.20.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXFY. Quadrature Capital Ltd bought a new stake in shares of Expensify in the 3rd quarter valued at about $35,000. Corton Capital Inc. acquired a new position in Expensify during the third quarter valued at approximately $37,000. FNY Investment Advisers LLC grew its holdings in Expensify by 212.5% during the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after purchasing an additional 8,500 shares during the period. Azora Capital LP bought a new stake in Expensify in the fourth quarter valued at approximately $61,000. Finally, Mackenzie Financial Corp acquired a new stake in Expensify in the fourth quarter worth $75,000. Institutional investors own 68.42% of the company’s stock.

Expensify Company Profile

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.