Bridgeway Capital Management LLC Raises Stock Position in Expensify, Inc. (NASDAQ:EXFY)

Bridgeway Capital Management LLC boosted its stake in Expensify, Inc. (NASDAQ:EXFY) by 19.8% in the 4th quarter, Holdings Channel reports. The firm owned 189,300 shares of the company’s stock after buying an additional 31,300 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Expensify were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EXFY. JPMorgan Chase & Co. raised its holdings in shares of Expensify by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 160,002 shares of the company’s stock valued at $314,000 after buying an additional 40,141 shares during the period. SG Americas Securities LLC purchased a new position in shares of Expensify in the fourth quarter valued at $39,000. Exchange Traded Concepts LLC purchased a new stake in Expensify during the 4th quarter worth $691,000. R Squared Ltd acquired a new position in Expensify in the 4th quarter worth $46,000. Finally, Bank of New York Mellon Corp purchased a new position in Expensify in the 4th quarter valued at about $174,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Insider Transactions at Expensify

In related news, Director Daniel Vidal sold 9,000 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $3.15, for a total value of $28,350.00. Following the sale, the director now owns 232,428 shares of the company’s stock, valued at $732,148.20. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Michael Barrett sold 22,873 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $2.84, for a total transaction of $64,959.32. Following the transaction, the chief executive officer now directly owns 1,588,480 shares of the company’s stock, valued at $4,511,283.20. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,921 shares of company stock worth $886,854. 12.27% of the stock is currently owned by insiders.

Expensify Stock Performance

Shares of Expensify stock opened at $2.40 on Monday. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13. The firm’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $3.19. The firm has a market cap of $192.90 million, a PE ratio of -13.33 and a beta of 1.86.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Expensify had a negative net margin of 11.81% and a negative return on equity of 14.72%.

Expensify announced that its board has approved a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 20.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, Lake Street Capital reduced their price target on Expensify from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday.

Expensify 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.