Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Acquires $35,567.05 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 24,529 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $35,567.05. Following the completion of the acquisition, the insider now directly owns 9,816,732 shares in the company, valued at $14,234,261.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Stock Up 1.3 %

Expensify stock opened at $1.52 on Friday. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $8.25. The firm’s 50 day simple moving average is $1.57 and its 200 day simple moving average is $1.78.

Expensify (NASDAQ:EXFY) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The firm had revenue of $33.50 million during the quarter, compared to the consensus estimate of $35.56 million. During the same period in the previous year, the company posted ($0.07) EPS. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, analysts predict that Expensify, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Expensify

A number of institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC boosted its position in shares of Expensify by 212.5% during the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after acquiring an additional 8,500 shares during the last quarter. Quadrature Capital Ltd bought a new position in Expensify in the third quarter valued at $35,000. Corton Capital Inc. bought a new position in Expensify in the third quarter valued at $37,000. Hsbc Holdings PLC raised its position in Expensify by 63.5% during the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after purchasing an additional 21,700 shares in the last quarter. Finally, Azora Capital LP bought a new stake in Expensify during the fourth quarter worth about $61,000. 68.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EXFY. Citigroup dropped their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.20.

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.