Citigroup Forecasts Strong Price Appreciation for Expensify (NASDAQ:EXFY) Stock

Expensify (NASDAQ:EXFY) had its target price hoisted by Citigroup from $4.00 to $5.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, JMP Securities lowered Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th.

Expensify Trading Down 6.5 %

Shares of NASDAQ:EXFY opened at $3.61 on Monday. The company has a market cap of $278.53 million, a price-to-earnings ratio of -20.05 and a beta of 1.90. Expensify has a 12 month low of $1.24 and a 12 month high of $4.13. The company has a 50-day moving average price of $2.65 and a 200 day moving average price of $2.18.

Insider Transactions at Expensify

In related news, CEO David Michael Barrett sold 13,272 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $3.84, for a total transaction of $50,964.48. Following the completion of the transaction, the chief executive officer now owns 1,207,675 shares in the company, valued at $4,637,472. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Anuradha Muralidharan sold 29,410 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $3.40, for a total value of $99,994.00. Following the completion of the transaction, the chief operating officer now directly owns 3,941 shares in the company, valued at $13,399.40. This trade represents a 88.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,929 shares of company stock worth $623,413. 17.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Expensify

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its stake in Expensify by 42.1% in the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after acquiring an additional 178,911 shares in the last quarter. Marshall Wace LLP bought a new position in Expensify in the second quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Expensify during the 2nd quarter worth $86,000. Wealthspire Advisors LLC raised its position in Expensify by 40.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock valued at $99,000 after purchasing an additional 19,157 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Expensify by 25.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock worth $604,000 after buying an additional 63,052 shares during the period. Institutional investors 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.