Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 85,730 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 85,730 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1.77, for a total value of $151,742.10. Following the transaction, the chief executive officer now owns 1,468,192 shares in the company, valued at approximately $2,598,699.84. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, March 27th, David Michael Barrett sold 54,685 shares of Expensify stock. The shares were sold at an average price of $1.74, for a total value of $95,151.90.
• On Friday, March 22nd, David Michael Barrett sold 83,289 shares of Expensify stock. The shares were sold at an average price of $1.82, for a total value of $151,585.98.
• On Wednesday, March 20th, David Michael Barrett sold 11,627 shares of Expensify stock. The shares were sold at an average price of $1.91, for a total value of $22,207.57.
• On Monday, March 18th, David Michael Barrett sold 81,301 shares of Expensify stock. The shares were sold at an average price of $1.86, for a total value of $151,219.86.
• On Friday, March 15th, David Michael Barrett sold 80,082 shares of Expensify stock. The shares were sold at an average price of $1.97, for a total value of $157,761.54.
• On Monday, March 11th, David Michael Barrett sold 7,311 shares of Expensify stock. The shares were sold at an average price of $2.14, for a total value of $15,645.54.

Expensify Trading Up 2.8 %

EXFY stock traded up $0.05 during midday trading on Thursday, reaching $1.84. The stock had a trading volume of 341,579 shares, compared to its average volume of 655,373. The company’s fifty day simple moving average is $1.85 and its 200 day simple moving average is $2.38. The company has a market cap of $129.87 million, a price-to-earnings ratio of -3.69 and a beta of 1.51. Expensify, Inc. has a 52-week low of $1.52 and a 52-week high of $8.69.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The firm had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $36.85 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s revenue for the quarter was down 19.1% on a year-over-year basis. Sell-side analysts predict that Expensify, Inc. will post -0.23 EPS for the current year.

Institutional Trading of Expensify

A number of hedge funds and other institutional investors have recently modified their holdings of EXFY. FNY Investment Advisers LLC increased its stake in shares of Expensify by 212.5% in the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock worth $30,000 after acquiring an additional 8,500 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Expensify by 117.8% in the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after acquiring an additional 1,178 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Expensify in the 3rd quarter worth $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Expensify in the 2nd quarter worth $36,000. Finally, Corton Capital Inc. acquired a new stake in shares of Expensify in the 3rd quarter worth $37,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.50.

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.