Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 54,685 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 54,685 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.74, for a total transaction of $95,151.90. Following the transaction, the chief executive officer now owns 1,324,438 shares of the company’s stock, valued at $2,304,522.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, March 25th, David Michael Barrett sold 85,730 shares of Expensify stock. The stock was sold at an average price of $1.77, for a total transaction of $151,742.10.
• On Friday, March 22nd, David Michael Barrett sold 83,289 shares of Expensify stock. The stock was sold at an average price of $1.82, for a total transaction of $151,585.98.
• On Wednesday, March 20th, David Michael Barrett sold 11,627 shares of Expensify stock. The stock was sold at an average price of $1.91, for a total transaction of $22,207.57.
• On Monday, March 18th, David Michael Barrett sold 81,301 shares of Expensify stock. The stock was sold at an average price of $1.86, for a total transaction of $151,219.86.
• On Friday, March 15th, David Michael Barrett sold 80,082 shares of Expensify stock. The stock was sold at an average price of $1.97, for a total transaction of $157,761.54.
• On Monday, March 11th, David Michael Barrett sold 7,311 shares of Expensify stock. The shares were sold at an average price of $2.14, for a total transaction of $15,645.54.

Expensify Stock Up 2.8 %

NASDAQ EXFY traded up $0.05 on Thursday, reaching $1.84. The company had a trading volume of 341,579 shares, compared to its average volume of 655,373. The stock has a market capitalization of $129.87 million, a PE ratio of -3.61 and a beta of 1.51. The firm’s 50 day moving average price is $1.85 and its 200 day moving average price is $2.38. Expensify, Inc. has a 12 month low of $1.52 and a 12 month high of $8.69.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The company had revenue of $35.20 million during the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The business’s revenue was down 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, research analysts expect that Expensify, Inc. will post -0.23 EPS for the current year.

Institutional Trading of Expensify

A number of institutional investors and hedge funds have recently bought and sold shares of EXFY. Bank of Montreal Can increased its holdings in Expensify by 71.0% in the 1st quarter. Bank of Montreal Can now owns 149,000 shares of the company’s stock valued at $2,911,000 after acquiring an additional 61,865 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Expensify by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 876,072 shares of the company’s stock worth $15,384,000 after buying an additional 20,964 shares during the last quarter. Durable Capital Partners LP increased its holdings in shares of Expensify by 27.5% in the 1st quarter. Durable Capital Partners LP now owns 2,069,629 shares of the company’s stock worth $36,343,000 after buying an additional 445,937 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Expensify by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after buying an additional 1,123 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Expensify in the 1st quarter worth about $2,167,000. 68.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their target price on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.50.

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.