Daniel Vidal Sells 9,000 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction on Friday, March 28th. The shares were 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 directly owns 232,428 shares of the company’s stock, valued at approximately $732,148.20. The trade was a 3.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Expensify Stock Performance

Expensify stock opened at $2.95 on Wednesday. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13. The firm has a market capitalization of $234.55 million, a PE ratio of -16.39 and a beta of 1.83. The business’s 50-day simple moving average is $3.49 and its 200-day simple moving average is $3.01.

Expensify declared that its Board of Directors has approved a share repurchase program on Thursday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 20.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

EXFY has been the subject of a number of analyst reports. Lake Street Capital boosted their price target on Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup upped their target price on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th.

Institutional Investors Weigh In On Expensify

Several hedge funds have recently modified their holdings of EXFY. Mariner LLC acquired a new position in Expensify during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Expensify by 1,194.4% during 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 during the period. SG Americas Securities LLC acquired a new position in shares of Expensify during the fourth quarter valued at about $39,000. Alpine Global Management LLC bought a new stake in shares of Expensify in the fourth quarter valued at about $40,000. Finally, R Squared Ltd acquired a new stake in Expensify during the fourth quarter worth about $46,000. 68.42% of the stock is owned by institutional investors.

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.