Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 27,331 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $3.36, for a total value of $91,832.16. Following the completion of the sale, the chief executive officer now owns 1,889,948 shares in the company, valued at $6,350,225.28. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total value of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The stock was 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 shares were sold at an average price of $3.32, for a total transaction 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 transaction 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

Shares of EXFY traded down $0.09 during trading hours on Wednesday, hitting $3.29. The stock had a trading volume of 392,950 shares, compared to its average volume of 665,517. The firm 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 fifty day moving average price of $3.51 and a 200 day moving average price of $2.96.

Expensify announced that its board has approved 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 buy up to 20.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EXFY shares. Citigroup upped their price target on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. Lake Street Capital raised their price target on shares of Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, JMP Securities cut shares of Expensify from an “outperform” rating to a “market perform” rating in a report on Monday, November 25th.

Hedge Funds Weigh In On Expensify

Several institutional investors have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its position in Expensify by 0.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,218,204 shares of the company’s stock valued at $7,431,000 after buying an additional 20,224 shares during the period. Marshall Wace LLP grew its position in shares of Expensify by 72.0% during the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after acquiring an additional 602,565 shares during the period. Formula Growth Ltd. increased its stake in shares of Expensify by 1.6% in the 4th quarter. Formula Growth Ltd. now owns 950,000 shares of the company’s stock worth $3,182,000 after purchasing an additional 15,000 shares in the last quarter. Topline Capital Management LLC purchased a new stake in shares of Expensify in the 4th quarter worth $3,085,000. Finally, Two Sigma Investments LP raised its holdings in Expensify by 4.8% in the 4th quarter. Two Sigma Investments LP now owns 779,341 shares of the company’s stock worth $2,611,000 after purchasing an additional 36,049 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.