Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 37,001 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 37,001 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $3.27, for a total value of $120,993.27. Following the completion of the transaction, the chief executive officer now owns 1,808,231 shares in the company, valued at $5,912,915.37. This represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, March 17th, David Michael Barrett sold 27,331 shares of Expensify stock. The shares were sold at an average price of $3.36, for a total value of $91,832.16.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total transaction of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The stock was 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 value 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 value of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $3.50, for a total value of $105,000.00.

Expensify Trading Down 2.7 %

Shares of Expensify stock traded down $0.09 on Wednesday, hitting $3.29. 392,950 shares of the company traded hands, compared to its average volume of 665,517. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $4.13. The company has a market cap of $261.58 million, a P/E ratio of -18.28 and a beta of 1.83. The firm’s 50-day simple moving average is $3.51 and its 200 day simple moving average is $2.96.

Expensify announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 20.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently made changes to their positions in EXFY. Jefferies Financial Group Inc. boosted its stake in shares of Expensify by 33.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 59,722 shares of the company’s stock valued at $200,000 after purchasing an additional 14,922 shares in the last quarter. Alpine Global Management LLC bought a new stake in Expensify during the 4th quarter valued at approximately $40,000. Two Sigma Advisers LP grew its holdings in shares of Expensify by 25.9% during the 4th quarter. Two Sigma Advisers LP now owns 606,800 shares of the company’s stock worth $2,033,000 after acquiring an additional 124,800 shares during the period. Two Sigma Investments LP raised its position in shares of 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 acquiring an additional 36,049 shares in the last quarter. Finally, State of Wyoming lifted its stake in shares of Expensify by 13.3% in the 4th quarter. State of Wyoming now owns 52,364 shares of the company’s stock valued at $175,000 after purchasing an additional 6,138 shares during the period. 68.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.