Expensify, Inc. (NASDAQ:EXFY) Shares Sold by Morling Financial Advisors LLC

Morling Financial Advisors LLC trimmed its holdings in Expensify, Inc. (NASDAQ:EXFY) by 11.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,024 shares of the company’s stock after selling 18,628 shares during the period. Morling Financial Advisors LLC owned 0.22% of Expensify worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EXFY. FNY Investment Advisers LLC raised its position in shares of Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after buying an additional 8,500 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Expensify in the third quarter valued at about $35,000. Corton Capital Inc. purchased a new stake in shares of Expensify in the third quarter valued at about $37,000. SG Americas Securities LLC purchased a new stake in shares of Expensify in the third quarter valued at about $51,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Expensify in the fourth quarter valued at about $75,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Expensify

In other news, COO Anuradha Muralidharan sold 16,584 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $2.14, for a total transaction of $35,489.76. Following the completion of the sale, the chief operating officer now owns 77,080 shares in the company, valued at approximately $164,951.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Anuradha Muralidharan sold 16,584 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $2.14, for a total value of $35,489.76. Following the completion of the sale, the chief operating officer now owns 77,080 shares in the company, valued at approximately $164,951.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel Vidal sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $2.00, for a total transaction of $40,000.00. Following the completion of the sale, the director now owns 129,727 shares of the company’s stock, valued at approximately $259,454. The disclosure for this sale can be found here. In the last quarter, insiders purchased 804,343 shares of company stock worth $1,267,742 and sold 621,107 shares worth $1,122,655. Insiders own 20.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EXFY. Citigroup dropped their price objective on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Piper Sandler dropped their price objective on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Expensify currently has an average rating of “Hold” and a consensus target price of $5.93.

Expensify Stock Up 6.8 %

Expensify stock traded up $0.10 during trading on Wednesday, reaching $1.65. The stock had a trading volume of 764,122 shares, compared to its average volume of 639,460. Expensify, Inc. has a 52-week low of $1.40 and a 52-week high of $8.25. The stock has a market cap of $116.46 million, a PE ratio of -3.24 and a beta of 1.49. The business has a 50 day moving average price of $1.80 and a 200 day moving average price of $2.13.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Expensify had a negative return on equity of 41.91% and a negative net margin of 27.70%. The firm had revenue of $35.20 million for the quarter, compared to analyst estimates of $36.85 million. During the same quarter last year, the firm earned ($0.04) EPS. The company’s revenue was down 19.1% on a year-over-year basis. On average, equities analysts predict that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

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.