Schonfeld Strategic Advisors LLC Acquires New Shares in Expensify, Inc. (NASDAQ:EXFY)

Schonfeld Strategic Advisors LLC bought a new position in shares of Expensify, Inc. (NASDAQ:EXFY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 142,236 shares of the company’s stock, valued at approximately $476,000.

Several other institutional investors also recently modified their holdings of the stock. Topline Capital Management LLC bought a new position in Expensify during the 4th quarter worth approximately $3,085,000. Marshall Wace LLP grew its holdings in shares of Expensify by 72.0% in the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after buying an additional 602,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Expensify by 814.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company’s stock valued at $2,024,000 after buying an additional 537,993 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Expensify by 2,760.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 289,717 shares of the company’s stock worth $971,000 after buying an additional 279,588 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in Expensify during the 4th quarter worth $691,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their price target on Expensify from $5.00 to $4.50 and set a “buy” rating for the company in a report on Friday.

Expensify Stock Down 21.6 %

Expensify stock opened at $2.40 on Friday. The company has a 50 day moving average of $3.02 and a 200-day moving average of $3.18. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The stock has a market capitalization of $192.90 million, a PE ratio of -13.33 and a beta of 1.86.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Expensify had a negative return on equity of 14.72% and a negative net margin of 11.81%.

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

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 45,643 shares of Expensify stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the sale, the chief executive officer now directly owns 2,026,590 shares in the company, valued at approximately $7,457,851.20. The trade was a 2.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the transaction, the director now owns 232,428 shares of the company’s stock, valued at approximately $732,148.20. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,921 shares of company stock valued at $886,854. 12.27% of the stock is owned by insiders.

Expensify 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.