David Michael Barrett Sells 30,000 Shares of Expensify (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY – Get Free Report) CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1.08, for a total transaction of $32,400.00. Following the sale, the chief executive officer owned 1,258,480 shares of the company’s stock, valued at $1,359,158.40. This represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Expensify Stock Performance

EXFY opened at $0.97 on Wednesday. The business’s 50-day simple moving average is $0.90 and its 200-day simple moving average is $1.26. The stock has a market capitalization of $81.75 million, a P/E ratio of -4.22 and a beta of 1.75. Expensify, Inc. has a one year low of $0.69 and a one year high of $2.64.

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Expensify (NASDAQ:EXFY – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%. The company had revenue of $33.97 million during the quarter, compared to analyst estimates of $34.25 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after acquiring an additional 759,982 shares during the last quarter. Millennium Management LLC grew its stake in Expensify by 103.2% during the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock valued at $4,276,000 after purchasing an additional 714,244 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Expensify by 4.5% in the third quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock worth $8,406,000 after buying an additional 197,702 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Expensify in the 4th quarter worth about $240,000. Finally, Victory Capital Management Inc. raised its stake in Expensify by 154.4% during the third quarter. Victory Capital Management Inc. now owns 191,764 shares of the company’s stock valued at $355,000 after buying an additional 116,385 shares in the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.50.

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Expensify Company Profile

(Get Free Report)

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.

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