Expensify, Inc. (NASDAQ:EXFY) CEO Sells $91,832.16 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 1,889,948 shares in the company, valued at approximately $6,350,225.28. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 shares were 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 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 stock was 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 shares were 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 transaction of $105,000.00.

Expensify Price Performance

Shares of EXFY stock opened at $3.29 on Thursday. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13. The stock’s 50-day moving average is $3.51 and its 200 day moving average is $2.96. The company has a market cap of $261.58 million, a P/E ratio of -18.28 and a beta of 1.83.

Expensify announced that its Board of Directors has approved a share repurchase program on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

EXFY has been the subject of several research reports. Lake Street Capital upped their target price on Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Citigroup increased their price objective on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, JMP Securities downgraded Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th.

Hedge Funds Weigh In On Expensify

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in Expensify in the 3rd quarter valued at $183,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Expensify by 76.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock worth $130,000 after purchasing an additional 28,731 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Expensify by 25.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock worth $604,000 after acquiring an additional 63,052 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after acquiring an additional 22,504 shares during the last quarter. Finally, Walleye Capital LLC grew its position in shares of Expensify by 42.1% during the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after acquiring an additional 178,911 shares during the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.