Federated Hermes Inc. Acquires 160,864 Shares of Expensify, Inc. (NASDAQ:EXFY)

Federated Hermes Inc. lifted its holdings in Expensify, Inc. (NASDAQ:EXFY) by 57,044.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,146 shares of the company’s stock after buying an additional 160,864 shares during the period. Federated Hermes Inc.’s holdings in Expensify were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new stake in shares of Expensify in the third quarter valued at $35,000. Corton Capital Inc. bought a new stake in Expensify in the third quarter worth about $37,000. FNY Investment Advisers LLC boosted its position in shares of Expensify by 212.5% during the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after buying an additional 8,500 shares during the period. SG Americas Securities LLC bought a new position in shares of Expensify during the third quarter valued at approximately $51,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Expensify in the fourth quarter worth approximately $75,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Expensify Price Performance

EXFY stock opened at $1.66 on Friday. Expensify, Inc. has a 1-year low of $1.40 and a 1-year high of $8.25. The business has a 50-day moving average price of $1.80 and a 200 day moving average price of $2.06. The company has a market capitalization of $117.16 million, a P/E ratio of -3.25 and a beta of 1.48.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The business had revenue of $35.20 million during the quarter, compared to the consensus estimate of $36.85 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. The company’s revenue for the quarter was down 19.1% compared to the same quarter last year. On average, analysts anticipate that Expensify, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 80,082 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $1.97, for a total transaction of $157,761.54. Following the sale, the chief executive officer now owns 1,967,748 shares of the company’s stock, valued at approximately $3,876,463.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Anuradha Muralidharan sold 20,000 shares of Expensify stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $2.15, for a total value of $43,000.00. Following the transaction, the chief operating officer now owns 57,080 shares of the company’s stock, valued at approximately $122,722. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Michael Barrett sold 80,082 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $1.97, for a total transaction of $157,761.54. Following the transaction, the chief executive officer now owns 1,967,748 shares of the company’s stock, valued at approximately $3,876,463.56. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 1,014,740 shares of company stock valued at $1,549,045 and sold 650,954 shares valued at $1,170,162. 20.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler reduced their target price on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Citigroup reduced their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Expensify has an average rating of “Hold” and an average target price of $5.93.

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.