Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 645,938 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 645,938 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $2.34, for a total transaction of $1,511,494.92. Following the transaction, the chief executive officer now owns 2,567,093 shares of the company’s stock, valued at $6,006,997.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, August 12th, David Michael Barrett sold 11,203 shares of Expensify stock. The shares were sold at an average price of $2.28, for a total transaction of $25,542.84.
• 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 value of $25,345.98.
• On Wednesday, August 7th, David Michael Barrett sold 16,260 shares of Expensify stock. The stock was sold at an average price of $1.52, for a total value of $24,715.20.
• On Monday, August 5th, David Michael Barrett sold 16,330 shares of Expensify stock. The shares were 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 stock was sold at an average price of $1.92, for a total transaction of $19,188.48.
• On Friday, July 26th, David Michael Barrett sold 13,140 shares of Expensify stock. The stock was sold at an average price of $1.93, for a total value 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.

Expensify Price Performance

Shares of NASDAQ EXFY traded down $0.13 during midday trading on Friday, reaching $2.32. 358,527 shares of the stock were exchanged, compared to its average volume of 797,140. The company has a market capitalization of $200.67 million, a price-to-earnings ratio of -4.83 and a beta of 1.48. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.55. The business has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $1.78.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities upgraded Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective for the company in a research report on Friday, August 9th. Morgan Stanley raised shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Expensify has a consensus rating of “Hold” and a consensus price target of $2.63.

Institutional Investors Weigh In On Expensify

Several large investors have recently modified their holdings of EXFY. Vanguard Group Inc. lifted its stake in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after buying an additional 476,687 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after purchasing an additional 129,689 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Expensify during the first quarter worth about $65,000. Federated Hermes Inc. grew its holdings in shares of Expensify by 57,044.0% during the fourth quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock worth $398,000 after buying an additional 160,864 shares in the last quarter. Finally, Azora Capital LP acquired a new stake in Expensify in the 4th quarter valued at approximately $61,000. 68.42% of the stock is currently owned by institutional investors.

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.