Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Acquires 17,511 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 17,511 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $1.59 per share, with a total value of $27,842.49. Following the completion of the acquisition, the insider now owns 9,015,636 shares in the company, valued at $14,334,861.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Expensify Stock Performance

NASDAQ EXFY traded down $0.02 on Monday, hitting $1.61. 2,096,983 shares of the stock were exchanged, compared to its average volume of 650,217. The stock has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $2.10. The firm has a market capitalization of $113.63 million, a P/E ratio of -3.18 and a beta of 1.49. Expensify, Inc. has a 52-week low of $1.40 and a 52-week high of $8.25.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data 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 analysts’ expectations of $36.85 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. Sell-side analysts expect that Expensify, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EXFY. Piper Sandler cut their target price 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. Citigroup cut their target price on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.93.

Institutional Trading of Expensify

Institutional investors and hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC lifted its position in shares of Expensify by 212.5% during the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock worth $30,000 after purchasing an additional 8,500 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Expensify in the third quarter valued at about $35,000. Corton Capital Inc. bought a new stake in shares of Expensify in the third quarter valued at about $37,000. SG Americas Securities LLC bought a new stake in shares of Expensify in the third quarter valued at about $51,000. Finally, Azora Capital LP bought a new stake in shares of Expensify in the fourth quarter valued at about $61,000. 68.42% of the stock is currently 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.