Alpine Global Management LLC Makes New Investment in Expensify, Inc. (NASDAQ:EXFY)

Alpine Global Management LLC acquired a new stake in shares of Expensify, Inc. (NASDAQ:EXFY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,820 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors have also modified their holdings of the stock. Mariner LLC purchased a new position in Expensify during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC raised its holdings in shares of Expensify by 1,194.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock valued at $36,000 after acquiring an additional 9,997 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Expensify in the fourth quarter worth about $39,000. R Squared Ltd bought a new position in Expensify during the 4th quarter worth about $46,000. Finally, Quantbot Technologies LP purchased a new position in Expensify during the 4th quarter valued at about $68,000. 68.42% of the stock is owned by institutional investors.

Expensify Stock Performance

NASDAQ:EXFY opened at $2.77 on Wednesday. The company’s 50-day simple moving average is $3.18 and its 200-day simple moving average is $3.08. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.13. The stock has a market capitalization of $220.23 million, a P/E ratio of -15.39 and a beta of 1.87.

Expensify announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 20.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 32,079 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $2.79, for a total value of $89,500.41. Following the completion of the sale, the chief executive officer now directly owns 1,673,744 shares in the company, valued at approximately $4,669,745.76. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Vidal sold 9,000 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total value of $28,350.00. Following the sale, the director now owns 232,428 shares in the company, valued at $732,148.20. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,136 shares of company stock valued at $744,280 over the last 90 days. Insiders own 17.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Lake Street Capital increased 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.

Expensify 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.