Expensify (NASDAQ:EXFY) Downgraded to Market Perform Rating by JMP Securities

JMP Securities downgraded shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a research report released on Monday morning, Marketbeat Ratings reports.

Expensify Stock Performance

EXFY stock opened at $3.27 on Monday. The company has a market capitalization of $252.31 million, a PE ratio of -18.17 and a beta of 1.51. Expensify has a one year low of $1.24 and a one year high of $3.47. The company’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $1.98.

Insider Activity

In related news, CFO Ryan Schaffer sold 12,500 shares of Expensify stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $2.27, for a total transaction of $28,375.00. Following the sale, the chief financial officer now directly owns 152,531 shares in the company, valued at $346,245.37. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Michael Barrett sold 11,095 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $2.28, for a total transaction of $25,296.60. Following the sale, the chief executive officer now owns 173,820 shares in the company, valued at approximately $396,309.60. This trade represents a 6.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,607 shares of company stock valued at $485,361. Insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in Expensify in the 2nd quarter worth approximately $53,000. Quadrature Capital Ltd purchased a new position in shares of Expensify in the first quarter worth $65,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Expensify during the second quarter valued at $86,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Expensify by 100.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after buying an additional 22,504 shares during the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Expensify by 40.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after buying an additional 19,157 shares in the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

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.