Expensify, Inc. (NASDAQ:EXFY) CEO Sells $120,993.27 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 37,001 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $3.27, for a total transaction of $120,993.27. Following the completion of the sale, the chief executive officer now owns 1,808,231 shares of the company’s stock, valued at $5,912,915.37. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 shares were 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 stock was 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 stock was sold at an average price of $3.41, for a total value of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total value of $105,000.00.

Expensify Price Performance

NASDAQ:EXFY traded down $0.09 during mid-day trading on Wednesday, reaching $3.29. The stock had a trading volume of 392,950 shares, compared to its average volume of 665,517. The stock has a market capitalization of $261.58 million, a PE ratio of -18.28 and a beta of 1.83. 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 $3.51 and a two-hundred day simple moving average of $2.96.

Expensify declared that its board has initiated a stock buyback plan on Thursday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Expensify

A number of hedge funds have recently made changes to their positions in EXFY. Ceera Investments LLC increased its position in Expensify by 1.0% during the 4th quarter. Ceera Investments LLC now owns 439,330 shares of the company’s stock valued at $1,472,000 after purchasing an additional 4,330 shares during the period. State of Wyoming raised its holdings in shares of Expensify by 13.3% during the fourth quarter. State of Wyoming now owns 52,364 shares of the company’s stock valued at $175,000 after purchasing an additional 6,138 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Expensify by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,976 shares of the company’s stock worth $1,062,000 after purchasing an additional 8,911 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock worth $36,000 after purchasing an additional 9,997 shares in the last quarter. Finally, Mariner LLC acquired a new stake in Expensify in the 4th quarter valued at $34,000. 68.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.