Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 32,079 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 32,079 shares of the business’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $2.79, for a total transaction of $89,500.41. Following the sale, the chief executive officer now directly owns 1,673,744 shares in the company, valued at approximately $4,669,745.76. The trade was a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 15th, David Michael Barrett sold 25,686 shares of Expensify stock. The shares were sold at an average price of $2.83, for a total value of $72,691.38.
• On Friday, March 21st, David Michael Barrett sold 2,900 shares of Expensify stock. The shares were sold at an average price of $3.20, for a total transaction of $9,280.00.
• 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 Monday, March 17th, David Michael Barrett sold 27,331 shares of Expensify stock. The stock was sold at an average price of $3.36, for a total value of $91,832.16.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total value of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The stock was sold at an average price of $3.68, for a total transaction of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total transaction 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 value 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 value of $110,732.93.

Expensify Stock Performance

Shares of NASDAQ EXFY traded up $0.05 during midday trading on Thursday, hitting $2.78. 378,175 shares of the stock traded hands, compared to its average volume of 653,421. The business has a 50 day moving average price of $3.27 and a two-hundred day moving average price of $3.05. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The company has a market cap of $221.03 million, a PE ratio of -15.44 and a beta of 1.87.

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

Analyst Ratings Changes

Separately, Lake Street Capital lifted their price objective on shares of Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On Expensify

A number of hedge funds have recently added to or reduced their stakes in EXFY. Charles Schwab Investment Management Inc. boosted its position in shares of Expensify by 25.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock valued at $604,000 after buying an additional 63,052 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Expensify by 29.6% in the 3rd quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after acquiring an additional 15,730 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Expensify by 11.3% during the third quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock valued at $1,010,000 after purchasing an additional 52,385 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Expensify by 33.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 160,002 shares of the company’s stock valued at $314,000 after buying an additional 40,141 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Expensify during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.