Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 27,331 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of Expensify stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16. Following the sale, the chief executive officer now owns 1,889,948 shares of the company’s stock, valued at approximately $6,350,225.28. This trade represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total transaction of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The stock was sold at an average price of $3.43, for a total transaction of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The shares were sold at an average price of $3.68, for a total value of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The stock was sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Stock Performance

Shares of EXFY opened at $3.29 on Thursday. The company has a 50-day simple moving average of $3.51 and a 200-day simple moving average of $2.96. The firm has a market capitalization of $261.58 million, a P/E ratio of -18.28 and a beta of 1.83. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13.

Expensify announced that its board has approved a share buyback program on Thursday, February 27th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 20.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Expensify

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner LLC bought a new position in shares of Expensify in the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC raised its holdings in Expensify by 1,194.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock worth $36,000 after buying an additional 9,997 shares during the period. SG Americas Securities LLC bought a new stake in Expensify in the 4th quarter valued at $39,000. Alpine Global Management LLC acquired a new position in shares of Expensify during the fourth quarter worth about $40,000. Finally, R Squared Ltd acquired a new position in Expensify during the 4th quarter worth approximately $46,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EXFY has been the subject of a number of research analyst reports. JMP Securities lowered shares of Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th. Citigroup raised their target price on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th.

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.