Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 11,627 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 11,627 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1.91, for a total value of $22,207.57. Following the sale, the chief executive officer now owns 133,668 shares of the company’s stock, valued at $255,305.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 Monday, March 25th, David Michael Barrett sold 85,730 shares of Expensify stock. The shares were sold at an average price of $1.77, for a total value of $151,742.10.
• 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 Monday, March 18th, David Michael Barrett sold 81,301 shares of Expensify stock. The stock was 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 stock was 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 transaction of $15,645.54.

Expensify Stock Performance

Shares of EXFY traded up $0.05 during midday trading on Thursday, hitting $1.84. 341,579 shares of the company traded hands, compared to its average volume of 655,373. Expensify, Inc. has a 52 week low of $1.52 and a 52 week high of $8.69. The firm has a 50 day moving average of $1.85 and a 200-day moving average of $2.38. The stock has a market cap of $129.87 million, a price-to-earnings ratio of -3.61 and a beta of 1.51.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS 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 business had revenue of $35.20 million during the quarter, compared to the consensus estimate of $36.85 million. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s revenue was down 19.1% on a year-over-year basis. Sell-side analysts predict that Expensify, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Expensify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in Expensify by 63.5% in the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after purchasing an additional 21,700 shares during the period. Barclays PLC raised its position in Expensify by 433.4% in the 3rd quarter. Barclays PLC now owns 105,759 shares of the company’s stock worth $344,000 after purchasing an additional 85,931 shares during the period. Walleye Capital LLC raised its position in Expensify by 396.1% in the 3rd quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after purchasing an additional 570,495 shares during the period. Aigen Investment Management LP purchased a new position in shares of Expensify during the third quarter worth approximately $134,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Expensify during the third quarter worth approximately $35,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

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.