Expensify (NASDAQ:EXFY) CEO Sells $32,400.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1.08, for a total value of $32,400.00. Following the completion of the sale, the chief executive officer owned 1,258,480 shares of the company’s stock, valued at $1,359,158.40. The trade was a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Expensify Price Performance

NASDAQ:EXFY opened at $1.14 on Thursday. The business has a 50 day moving average of $0.90 and a 200 day moving average of $1.26. The company has a market capitalization of $96.08 million, a price-to-earnings ratio of -4.96 and a beta of 1.75. Expensify, Inc. has a 1-year low of $0.69 and a 1-year high of $2.64.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Expensify had a negative return on equity of 15.26% and a negative net margin of 14.68%.The company had revenue of $33.97 million during the quarter, compared to analysts’ expectations of $34.25 million.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently made changes to their positions in EXFY. Abel Hall LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $25,000. SG Americas Securities LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $27,000. Savant Capital LLC purchased a new position in shares of Expensify during the third quarter valued at approximately $30,000. Franklin Resources Inc. purchased a new position in shares of Expensify during the third quarter valued at approximately $34,000. Finally, CWM LLC purchased a new position in shares of Expensify during the third quarter valued at approximately $36,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EXFY. Wall Street Zen upgraded Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Expensify currently has an average rating of “Reduce” and an average price target of $2.50.

Expensify Company Profile

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.