Expensify, Inc. (NASDAQ:EXFY – Get Free Report)’s stock price dropped 3.4% on Thursday . The stock traded as low as $1.68 and last traded at $1.70. Approximately 803,531 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,461,806 shares. The stock had previously closed at $1.76.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Expensify from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Expensify has an average rating of “Reduce” and a consensus target price of $2.50.
Read Our Latest Research Report on Expensify
Expensify Trading Down 3.4%
Expensify (NASDAQ:EXFY – Get Free Report) last announced 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 return on equity of 15.26% and a negative net margin of 14.68%.The firm had revenue of $33.97 million during the quarter, compared to the consensus estimate of $34.25 million.
Insider Buying and Selling
In other news, CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1.15, for a total transaction of $34,500.00. Following the transaction, the chief executive officer directly owned 1,228,480 shares of the company’s stock, valued at $1,412,752. This represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1.01, for a total value of $31,035.28. Following the completion of the transaction, the director owned 254,780 shares in the company, valued at approximately $257,327.80. This represents a 10.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,728 shares of company stock worth $109,235 over the last ninety days. 11.65% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the business. Abel Hall LLC purchased a new position in Expensify during the fourth quarter worth about $25,000. SG Americas Securities LLC purchased a new stake in Expensify in the 4th quarter valued at about $27,000. Franklin Resources Inc. purchased a new stake in Expensify in the 3rd quarter valued at about $34,000. Royce & Associates LP lifted its position in shares of Expensify by 52.4% during the 3rd quarter. Royce & Associates LP now owns 30,109 shares of the company’s stock worth $56,000 after buying an additional 10,358 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Expensify by 126.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after buying an additional 17,634 shares in the last quarter. 68.42% of the stock is owned by institutional investors.
Expensify Company Profile
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.
Featured Articles
- Five stocks we like better than Expensify
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
Receive News & Ratings for Expensify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Expensify and related companies with MarketBeat.com's FREE daily email newsletter.
