Geode Capital Management LLC Grows Stock Holdings in Expensify, Inc. (NASDAQ:EXFY)

Geode Capital Management LLC raised its position in shares of Expensify, Inc. (NASDAQ:EXFY) by 11.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 514,948 shares of the company’s stock after purchasing an additional 52,385 shares during the period. Geode Capital Management LLC owned approximately 0.67% of Expensify worth $1,010,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EXFY. Marshall Wace LLP purchased a new stake in Expensify during the second quarter valued at about $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Expensify in the second quarter worth about $86,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after buying an additional 22,504 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Expensify by 40.7% in the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after buying an additional 19,157 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock worth $130,000 after buying an additional 28,731 shares during the period. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Expensify Price Performance

NASDAQ:EXFY opened at $3.25 on Friday. The firm has a market capitalization of $250.76 million, a price-to-earnings ratio of -18.05 and a beta of 1.85. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The business has a fifty day moving average price of $3.23 and a 200-day moving average price of $2.41.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 58,226 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $2.76, for a total value of $160,703.76. Following the sale, the chief executive officer now directly owns 2,508,867 shares of the company’s stock, valued at $6,924,472.92. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy L. Christen sold 18,273 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $3.59, for a total transaction of $65,600.07. Following the transaction, the director now directly owns 194,983 shares in the company, valued at approximately $699,988.97. This trade represents a 8.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 223,202 shares of company stock valued at $689,013 in the last 90 days. Insiders own 17.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EXFY. JMP Securities cut Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th. Citigroup raised their target price on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

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.