Insider Selling: Expensify (NASDAQ:EXFY) CEO Sells 30,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.45, for a total value of $43,500.00. Following the transaction, the chief executive officer directly owned 1,318,480 shares in the company, valued at $1,911,796. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 2nd, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.50, for a total transaction of $45,000.00.
• On Tuesday, December 30th, David Michael Barrett sold 14,463 shares of Expensify stock. The stock was sold at an average price of $1.52, for a total transaction of $21,983.76.
• On Wednesday, December 17th, David Michael Barrett sold 2,544 shares of Expensify stock. The shares were sold at an average price of $1.55, for a total transaction of $3,943.20.
• On Monday, December 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total value of $45,600.00.

Expensify Stock Up 4.3%

Shares of NASDAQ:EXFY traded up $0.06 during trading on Wednesday, hitting $1.45. The stock had a trading volume of 827,496 shares, compared to its average volume of 446,369. Expensify, Inc. has a 12-month low of $1.30 and a 12-month high of $4.00. The stock has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $1.69. The stock has a market capitalization of $117.22 million, a price-to-earnings ratio of -8.53 and a beta of 1.69.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $35.07 million during the quarter, compared to analyst estimates of $35.65 million. Expensify had a negative return on equity of 11.75% and a negative net margin of 10.83%.

Analyst Upgrades and Downgrades

Several research firms have commented on EXFY. Weiss Ratings restated a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. Wall Street Zen cut shares of Expensify from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

Hedge Funds Weigh In On Expensify

Several hedge funds and other institutional investors have recently made changes to their positions in EXFY. ProShare Advisors LLC purchased a new stake in shares of Expensify during the second quarter worth approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Expensify during the 2nd quarter worth $32,000. Heron Bay Capital Management purchased a new stake in shares of Expensify during the second quarter worth $37,000. Savant Capital LLC purchased a new stake in shares of Expensify during the third quarter worth $30,000. Finally, SG Americas Securities LLC purchased a new position in shares of Expensify in the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

About Expensify

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.