OMERS ADMINISTRATION Corp Invests $402,000 in Expensify, Inc. (NASDAQ:EXFY)

OMERS ADMINISTRATION Corp purchased a new stake in Expensify, Inc. (NASDAQ:EXFY) in the fourth quarter, Holdings Channel reports. The firm purchased 120,100 shares of the company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mariner LLC bought a new stake in Expensify during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC increased its stake in shares of Expensify by 1,194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock valued at $36,000 after buying an additional 9,997 shares during the period. SG Americas Securities LLC purchased a new position in shares of Expensify during the fourth quarter valued at $39,000. Alpine Global Management LLC bought a new stake in shares of Expensify in the fourth quarter valued at about $40,000. Finally, R Squared Ltd purchased a new stake in Expensify in the fourth quarter worth about $46,000. Institutional investors own 68.42% of the company’s stock.

Expensify Trading Up 2.1%

Shares of NASDAQ EXFY opened at $2.42 on Tuesday. The stock has a market capitalization of $194.51 million, a PE ratio of -13.44 and a beta of 1.86. The stock’s fifty day simple moving average is $2.88 and its two-hundred day simple moving average is $3.21. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $4.13.

Expensify announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 20.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their target price on shares of Expensify from $5.00 to $4.50 and set a “buy” rating on the stock in a research report on Friday, May 9th.

Insider Buying and Selling

In other Expensify news, Director Daniel Vidal sold 9,000 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $3.15, for a total value of $28,350.00. Following the completion of the transaction, the director now directly owns 232,428 shares in the company, valued at approximately $732,148.20. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Michael Barrett sold 39,399 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $2.75, for a total transaction of $108,347.25. Following the sale, the chief executive officer now directly owns 1,634,345 shares of the company’s stock, valued at approximately $4,494,448.75. The trade was a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 235,278 shares of company stock worth $718,887 in the last three months. 12.27% of the stock is owned by insiders.

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.