Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 12,850 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 12,850 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $1.98, for a total transaction of $25,443.00. Following the completion of the transaction, the chief executive officer now owns 3,382,429 shares of the company’s stock, valued at approximately $6,697,209.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, July 26th, David Michael Barrett sold 13,140 shares of Expensify stock. The stock was sold at an average price of $1.93, for a total transaction of $25,360.20.
• On Monday, July 22nd, David Michael Barrett sold 13,560 shares of Expensify stock. The shares were sold at an average price of $1.87, for a total transaction of $25,357.20.
• On Friday, July 19th, David Michael Barrett sold 13,350 shares of Expensify stock. The stock was sold at an average price of $1.89, for a total value of $25,231.50.
• On Wednesday, July 17th, David Michael Barrett sold 12,385 shares of Expensify stock. The shares were sold at an average price of $2.07, for a total value of $25,636.95.
• On Monday, July 15th, David Michael Barrett sold 11,470 shares of Expensify stock. The shares were sold at an average price of $2.25, for a total value of $25,807.50.
• On Friday, July 12th, David Michael Barrett sold 11,550 shares of Expensify stock. The stock was sold at an average price of $2.24, for a total value of $25,872.00.
• On Wednesday, July 10th, David Michael Barrett sold 12,300 shares of Expensify stock. The shares were sold at an average price of $2.07, for a total transaction of $25,461.00.
• On Monday, July 8th, David Michael Barrett sold 16,874 shares of Expensify stock. The shares were sold at an average price of $1.46, for a total transaction of $24,636.04.
• On Friday, July 5th, David Michael Barrett sold 16,660 shares of Expensify stock. The stock was sold at an average price of $1.48, for a total transaction of $24,656.80.
• On Wednesday, July 3rd, David Michael Barrett sold 16,474 shares of Expensify stock. The stock was sold at an average price of $1.50, for a total transaction of $24,711.00.

Expensify Price Performance

NASDAQ EXFY traded down $0.08 on Monday, hitting $1.90. 276,561 shares of the stock were exchanged, compared to its average volume of 798,076. The company’s 50-day moving average price is $1.65 and its two-hundred day moving average price is $1.73. Expensify, Inc. has a 52-week low of $1.24 and a 52-week high of $8.15. The company has a market capitalization of $164.33 million, a price-to-earnings ratio of -3.96 and a beta of 1.47.

Expensify (NASDAQ:EXFY) last issued its quarterly 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 business had revenue of $33.50 million for the quarter, compared to analysts’ expectations of $35.56 million. Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. Equities analysts predict that Expensify, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Expensify

A number of large investors have recently made changes to their positions in EXFY. SVB Wealth LLC boosted its holdings in shares of Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after purchasing an additional 1,309,037 shares during the period. Vanguard Group Inc. lifted its position in Expensify by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after buying an additional 476,687 shares in the last quarter. Palogic Value Management L.P. boosted its stake in shares of Expensify by 33.3% during the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after buying an additional 200,000 shares during the period. Federated Hermes Inc. grew its holdings in shares of Expensify by 57,044.0% during the 4th quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock valued at $398,000 after acquiring an additional 160,864 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of 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 acquiring an additional 129,689 shares during the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. Citigroup cut their target price on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock 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 analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Expensify has a consensus rating of “Hold” and an average target price 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.