Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Purchases 248,712 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 248,712 shares of the business’s stock in a transaction on Monday, April 15th. The stock was bought at an average cost of $1.43 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Expensify Stock Performance

Shares of NASDAQ EXFY opened at $1.51 on Thursday. Expensify, Inc. has a 1 year low of $1.40 and a 1 year high of $8.64. The firm has a market cap of $106.58 million, a price-to-earnings ratio of -2.96 and a beta of 1.49. The stock’s 50-day simple moving average is $1.81 and its 200-day simple moving average is $2.18.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Expensify had a negative return on equity of 41.91% and a negative net margin of 27.70%. The business had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $36.85 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue was down 19.1% compared to the same quarter last year. As a group, research analysts predict that Expensify, Inc. will post -0.19 EPS for the current year.

Hedge Funds Weigh In On Expensify

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Expensify by 63.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 265,787 shares of the company’s stock worth $656,000 after purchasing an additional 102,738 shares in the last quarter. Virtu Financial LLC acquired a new position in Expensify in the fourth quarter worth about $56,000. Barclays PLC grew its stake in Expensify by 10.8% in the fourth quarter. Barclays PLC now owns 117,156 shares of the company’s stock worth $289,000 after purchasing an additional 11,397 shares in the last quarter. Occudo Quantitative Strategies LP grew its stake in Expensify by 109.6% in the fourth quarter. Occudo Quantitative Strategies LP now owns 86,012 shares of the company’s stock worth $212,000 after purchasing an additional 44,973 shares in the last quarter. Finally, Prelude Capital Management LLC grew its stake in Expensify by 17.7% in the fourth quarter. Prelude Capital Management LLC now owns 51,300 shares of the company’s stock worth $127,000 after purchasing an additional 7,700 shares in the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.50.

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.