Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Buys $202,737.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 135,158 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was acquired at an average price of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the purchase, the insider now directly owns 8,989,644 shares in the company, valued at $13,484,466. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Trading Up 3.1 %

Shares of EXFY traded up $0.05 during midday trading on Friday, reaching $1.64. The stock had a trading volume of 809,627 shares, compared to its average volume of 641,647. The company’s 50-day moving average is $1.81 and its 200 day moving average is $2.17. Expensify, Inc. has a 12-month low of $1.40 and a 12-month high of $8.64. The company has a market capitalization of $115.75 million, a price-to-earnings ratio of -3.22 and a beta of 1.49.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $36.85 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Expensify’s revenue for the quarter was down 19.1% compared to the same quarter last year. Research analysts forecast that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their target price on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Two research 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’s stock. Based on data from MarketBeat, Expensify presently has an average rating of “Hold” and an average price target of $6.50.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Expensify by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after purchasing an additional 1,123 shares in the last quarter. Royal Bank of Canada boosted its holdings in Expensify by 117.8% during the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock valued at $33,000 after acquiring an additional 1,178 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Expensify by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock valued at $1,282,000 after acquiring an additional 1,297 shares during the period. UBS Group AG purchased a new stake in Expensify during the 3rd quarter valued at about $56,000. Finally, State of Wyoming boosted its holdings in Expensify by 63.5% during the 2nd quarter. State of Wyoming now owns 11,072 shares of the company’s stock valued at $88,000 after acquiring an additional 4,302 shares during the period. 68.42% of the stock is currently owned by hedge funds and other 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.