Expensify, Inc. (NASDAQ:EXFY) CEO Sells $120,993.27 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 37,001 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $3.27, for a total value of $120,993.27. Following the completion of the transaction, the chief executive officer now directly owns 1,808,231 shares in the company, valued at approximately $5,912,915.37. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 17th, David Michael Barrett sold 27,331 shares of Expensify stock. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total transaction of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The stock was sold at an average price of $3.68, for a total transaction of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The shares were sold at an average price of $3.32, for a total value of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The stock was sold at an average price of $3.41, for a total value of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total value of $105,000.00.

Expensify Stock Down 1.5 %

EXFY stock opened at $3.25 on Friday. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The stock has a market capitalization of $258.40 million, a price-to-earnings ratio of -18.05 and a beta of 1.83. The firm’s fifty day simple moving average is $3.51 and its two-hundred day simple moving average is $2.96.

Expensify declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 20.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EXFY shares. Citigroup upped their price target on shares of Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JMP Securities cut shares of Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th. Finally, Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, February 28th.

Institutional Trading of Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXFY. Ameriprise Financial Inc. grew its stake in shares of Expensify by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,218,204 shares of the company’s stock valued at $7,431,000 after buying an additional 20,224 shares during the last quarter. Marshall Wace LLP boosted its holdings in Expensify by 72.0% during the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after acquiring an additional 602,565 shares during the period. Formula Growth Ltd. grew its position in Expensify by 1.6% in the 4th quarter. Formula Growth Ltd. now owns 950,000 shares of the company’s stock valued at $3,182,000 after acquiring an additional 15,000 shares during the last quarter. Topline Capital Management LLC purchased a new stake in Expensify in the fourth quarter worth $3,085,000. Finally, Two Sigma Investments LP lifted its position in shares of Expensify by 4.8% during the fourth quarter. Two Sigma Investments LP now owns 779,341 shares of the company’s stock worth $2,611,000 after purchasing an additional 36,049 shares during 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.