Steven J. Mclaughlin Acquires 248,712 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 248,712 shares of Expensify stock in a transaction dated Monday, April 15th. The shares were purchased at an average cost of $1.43 per share, with a total value of $355,658.16. Following the completion of the transaction, the insider now directly owns 8,778,407 shares of the company’s stock, valued at $12,553,122.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Expensify Trading Up 4.1 %

NASDAQ:EXFY traded up $0.06 on Wednesday, hitting $1.51. The company’s stock had a trading volume of 692,530 shares, compared to its average volume of 632,053. The stock has a fifty day moving average of $1.81 and a two-hundred day moving average of $2.18. The firm has a market capitalization of $106.58 million, a P/E ratio of -2.96 and a beta of 1.49. Expensify, Inc. has a one year low of $1.40 and a one year high of $8.64.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $35.20 million during the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. Expensify’s quarterly revenue was down 19.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. As a group, sell-side analysts anticipate that Expensify, Inc. will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Expensify

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Expensify by 117.8% during the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after purchasing an additional 1,178 shares during the last quarter. UBS Group AG acquired a new stake in Expensify during the 3rd quarter worth approximately $56,000. Ameritas Investment Partners Inc. acquired a new stake in Expensify during the 2nd quarter worth approximately $36,000. Quantbot Technologies LP acquired a new stake in Expensify during the 1st quarter worth approximately $86,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Expensify during the 3rd quarter worth approximately $89,000. 68.42% of the stock is owned by institutional investors and hedge funds.

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.