Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells $24,715.20 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 16,260 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1.52, for a total value of $24,715.20. Following the completion of the sale, the chief executive officer now directly owns 3,264,870 shares in the company, valued at $4,962,602.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, August 9th, David Michael Barrett sold 12,801 shares of Expensify stock. The shares were sold at an average price of $1.98, for a total transaction of $25,345.98.
• On Monday, August 5th, David Michael Barrett sold 16,330 shares of Expensify stock. The stock was sold at an average price of $1.51, for a total value of $24,658.30.
• On Friday, August 2nd, David Michael Barrett sold 15,475 shares of Expensify stock. The stock was sold at an average price of $1.61, for a total transaction of $24,914.75.
• On Wednesday, July 31st, David Michael Barrett sold 1,500 shares of Expensify stock. The stock was sold at an average price of $1.84, for a total value of $2,760.00.
• On Monday, July 29th, David Michael Barrett sold 9,994 shares of Expensify stock. The shares were sold at an average price of $1.92, for a total value of $19,188.48.
• On Friday, July 26th, David Michael Barrett sold 13,140 shares of Expensify stock. The shares were sold at an average price of $1.93, for a total transaction of $25,360.20.
• On Wednesday, July 24th, David Michael Barrett sold 12,850 shares of Expensify stock. The stock was sold at an average price of $1.98, for a total transaction of $25,443.00.
• On Monday, July 22nd, David Michael Barrett sold 13,560 shares of Expensify stock. The shares were sold at an average price of $1.87, for a total transaction of $25,357.20.
• On Friday, July 19th, David Michael Barrett sold 13,350 shares of Expensify stock. The shares were sold at an average price of $1.89, for a total transaction of $25,231.50.
• On Wednesday, July 17th, David Michael Barrett sold 12,385 shares of Expensify stock. The shares were sold at an average price of $2.07, for a total value of $25,636.95.

Expensify Price Performance

Expensify stock opened at $2.10 on Monday. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.84. The firm’s 50 day moving average price is $1.66 and its 200-day moving average price is $1.72. The stock has a market cap of $181.64 million, a P/E ratio of -4.38 and a beta of 1.48.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) EPS 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 company had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, equities analysts expect that Expensify, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthspire Advisors LLC raised its holdings in shares of Expensify by 40.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after acquiring an additional 19,157 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Expensify in the first quarter worth $65,000. Acadian Asset Management LLC increased its position in Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after purchasing an additional 129,689 shares during the last quarter. Vanguard Group Inc. raised its stake in Expensify by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after purchasing an additional 476,687 shares in the last quarter. Finally, Palogic Value Management L.P. lifted its position in Expensify by 33.3% during the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after purchasing an additional 200,000 shares during the last quarter. 68.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JMP Securities raised Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective on the stock in a research note on Friday. Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Citigroup dropped their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.63.

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.