Expensify (NASDAQ:EXFY) CEO Sells $34,500.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.15, for a total transaction of $34,500.00. Following the completion of the sale, the chief executive officer directly owned 1,228,480 shares in the company, valued at approximately $1,412,752. The trade was a 2.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.08, for a total transaction of $32,400.00.

Expensify Stock Down 0.9%

Shares of NASDAQ:EXFY opened at $1.15 on Friday. The company has a market cap of $96.92 million, a price-to-earnings ratio of -5.00 and a beta of 1.79. The firm’s 50-day simple moving average is $0.99 and its 200-day simple moving average is $1.22. Expensify, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $2.64.

Expensify (NASDAQ:EXFY) last issued its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $33.97 million during the quarter, compared to analysts’ expectations of $34.25 million. Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Expensify in a report on Friday, May 1st. Wall Street Zen raised shares of Expensify from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Expensify has a consensus rating of “Reduce” and an average target price of $2.50.

Institutional Trading of Expensify

A number of institutional investors have recently added to or reduced their stakes in EXFY. Millennium Management LLC boosted its holdings in Expensify by 103.2% during the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after buying an additional 714,244 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Expensify during the first quarter worth about $142,000. Geode Capital Management LLC boosted its holdings in Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after buying an additional 759,982 shares in the last quarter. American Century Companies Inc. boosted its holdings in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock worth $315,000 after buying an additional 21,912 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Expensify during the second quarter worth about $157,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Expensify Company Profile

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.