Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Buys 248,712 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 248,712 shares of the company’s stock in a transaction on Monday, April 15th. The stock was purchased at an average cost of $1.43 per share, for a total transaction of $355,658.16. Following the completion of the transaction, the insider now owns 8,778,407 shares in the company, valued at $12,553,122.01. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Expensify Price Performance

Shares of EXFY stock opened at $1.59 on Friday. The firm has a market cap of $112.22 million, a P/E ratio of -3.12 and a beta of 1.49. The stock’s 50-day moving average is $1.81 and its two-hundred day moving average is $2.17. Expensify, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $8.64.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The company had revenue of $35.20 million for the quarter, compared to analyst estimates of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The business’s revenue was down 19.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) EPS. As a group, research analysts expect that Expensify, Inc. will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Expensify by 63.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 265,787 shares of the company’s stock valued at $656,000 after acquiring an additional 102,738 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Expensify during the 4th quarter valued at about $56,000. Barclays PLC increased its holdings in shares of Expensify by 10.8% during the 4th quarter. Barclays PLC now owns 117,156 shares of the company’s stock valued at $289,000 after acquiring an additional 11,397 shares during the last quarter. Occudo Quantitative Strategies LP increased its holdings in shares of Expensify by 109.6% during the 4th quarter. Occudo Quantitative Strategies LP now owns 86,012 shares of the company’s stock valued at $212,000 after acquiring an additional 44,973 shares during the last quarter. Finally, Prelude Capital Management LLC boosted its stake in Expensify by 17.7% during the 4th quarter. Prelude Capital Management LLC now owns 51,300 shares of the company’s stock valued at $127,000 after purchasing an additional 7,700 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their target price on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.50.

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.