Schonfeld Strategic Advisors LLC Makes New $476,000 Investment in Expensify, Inc. (NASDAQ:EXFY)

Schonfeld Strategic Advisors LLC acquired a new stake in Expensify, Inc. (NASDAQ:EXFY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 142,236 shares of the company’s stock, valued at approximately $476,000. Schonfeld Strategic Advisors LLC owned 0.18% of Expensify at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in Expensify by 11.3% in the third quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock valued at $1,010,000 after acquiring an additional 52,385 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 40,141 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Expensify in the 4th quarter worth about $39,000. Exchange Traded Concepts LLC bought a new position in Expensify during the 4th quarter valued at about $691,000. Finally, R Squared Ltd acquired a new position in Expensify in the fourth quarter valued at about $46,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Daniel Vidal sold 9,000 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Michael Barrett sold 45,643 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the completion of the transaction, the chief executive officer now owns 2,026,590 shares in the company, valued at approximately $7,457,851.20. This represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,921 shares of company stock valued at $886,854. 12.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their target price on shares of Expensify from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Friday.

Expensify Stock Down 21.6 %

Expensify stock opened at $2.40 on Friday. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $4.13. The stock has a 50-day simple moving average of $3.02 and a 200 day simple moving average of $3.18. The stock has a market capitalization of $192.90 million, a price-to-earnings ratio of -13.33 and a beta of 1.86.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Expensify had a negative return on equity of 14.72% and a negative net margin of 11.81%.

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

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.