Expensify, Inc. (NASDAQ:EXFY) Short Interest Update

Expensify, Inc. (NASDAQ:EXFY) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,190,000 shares, an increase of 28.8% from the March 31st total of 1,700,000 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 655,200 shares, the short-interest ratio is currently 3.3 days.

Insider Buying and Selling

In related news, major shareholder Steven J. Mclaughlin purchased 248,712 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was bought at an average cost of $1.43 per share, with a total value of $355,658.16. Following the completion of the acquisition, the insider now directly owns 8,778,407 shares in the company, valued at approximately $12,553,122.01. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Anuradha Muralidharan sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $2.15, for a total transaction of $43,000.00. Following the transaction, the chief operating officer now owns 57,080 shares of the company’s stock, valued at $122,722. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Steven J. Mclaughlin bought 248,712 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $1.43 per share, for a total transaction of $355,658.16. Following the transaction, the insider now owns 8,778,407 shares of the company’s stock, valued at approximately $12,553,122.01. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 584,322 shares of company stock valued at $877,114 and have sold 637,017 shares valued at $1,147,475. 20.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Expensify

A number of hedge funds have recently made changes to their positions in EXFY. SG Americas Securities LLC purchased a new stake in shares of Expensify during the 3rd quarter valued at about $51,000. Bank of New York Mellon Corp boosted its position in Expensify by 15.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 220,490 shares of the company’s stock valued at $717,000 after buying an additional 29,131 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Expensify during the third quarter valued at about $178,000. Barclays PLC increased its position in shares of Expensify by 433.4% during the third quarter. Barclays PLC now owns 105,759 shares of the company’s stock worth $344,000 after acquiring an additional 85,931 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of Expensify by 93.5% in the third quarter. Quantbot Technologies LP now owns 47,396 shares of the company’s stock worth $154,000 after acquiring an additional 22,897 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EXFY shares. Citigroup decreased their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Piper Sandler decreased their price target on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.93.

Expensify Stock Performance

Expensify stock opened at $1.61 on Tuesday. Expensify has a 12 month low of $1.40 and a 12 month high of $8.25. The stock’s 50-day moving average is $1.80 and its 200-day moving average is $2.10.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was down 19.1% on a year-over-year basis. Sell-side analysts expect that Expensify will post -0.19 EPS for the current year.

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.