Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells 9,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the completion of the transaction, the director now directly owns 232,428 shares in the company, valued at $732,148.20. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Expensify Price Performance

Shares of Expensify stock traded down $0.07 on Monday, reaching $3.04. The company had a trading volume of 321,426 shares, compared to its average volume of 662,771. The firm’s 50-day moving average price is $3.51 and its two-hundred day moving average price is $3.01. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13. The firm has a market cap of $241.70 million, a price-to-earnings ratio of -16.89 and a beta of 1.83.

Expensify declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 20.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

EXFY has been the topic of a number of analyst reports. Lake Street Capital lifted their price objective on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Citigroup raised their price target on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th.

Institutional Investors Weigh In On Expensify

A number of hedge funds have recently modified their holdings of EXFY. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Expensify by 76.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock worth $130,000 after purchasing an additional 28,731 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Expensify by 25.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock valued at $604,000 after acquiring an additional 63,052 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after purchasing an additional 22,504 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Expensify by 42.1% during the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock valued at $1,183,000 after acquiring an additional 178,911 shares during the last quarter. Finally, RBF Capital LLC increased its position in shares of Expensify by 10.9% in the third quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock worth $946,000 after acquiring an additional 47,389 shares in the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

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.