Expensify (NASDAQ:EXFY) Price Target Raised to $5.00

Expensify (NASDAQ:EXFY) had its price target lifted by Citigroup from $4.00 to $5.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Separately, JMP Securities lowered Expensify from an “outperform” rating to a “market perform” rating in a report on Monday, November 25th.

Expensify Price Performance

Shares of Expensify stock opened at $3.61 on Monday. Expensify has a 1-year low of $1.24 and a 1-year high of $4.13. The company’s fifty day simple moving average is $2.65 and its 200-day simple moving average is $2.18. The stock has a market capitalization of $278.53 million, a PE ratio of -20.05 and a beta of 1.90.

Insiders Place Their Bets

In related news, COO Anuradha Muralidharan sold 12,320 shares of Expensify stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $3.85, for a total transaction of $47,432.00. Following the sale, the chief operating officer now owns 4,614 shares of the company’s stock, valued at approximately $17,763.90. This trade represents a 72.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Michael Barrett sold 58,226 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $2.76, for a total value of $160,703.76. Following the completion of the transaction, the chief executive officer now directly owns 2,508,867 shares in the company, valued at approximately $6,924,472.92. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,929 shares of company stock worth $623,413 over the last three months. 17.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in Expensify in the 2nd quarter worth $53,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after purchasing an additional 22,504 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Expensify in the second quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Expensify by 76.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock valued at $130,000 after buying an additional 28,731 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Expensify by 40.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock valued at $99,000 after buying an additional 19,157 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

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.