Expensify, Inc. (NASDAQ:EXFY) Sees Significant Decrease in Short Interest

Expensify, Inc. (NASDAQ:EXFY) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 462,300 shares, a decline of 6.4% from the August 31st total of 493,800 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 0.4 days.

Insider Buying and Selling at Expensify

In other news, CEO David Michael Barrett sold 12,300 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $2.07, for a total transaction of $25,461.00. Following the sale, the chief executive officer now owns 1,765,703 shares in the company, valued at $3,655,005.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Steven J. Mclaughlin purchased 123,217 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $1.45 per share, with a total value of $178,664.65. Following the completion of the acquisition, the insider now directly owns 9,939,949 shares in the company, valued at approximately $14,412,926.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Michael Barrett sold 12,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $2.07, for a total transaction of $25,461.00. Following the completion of the transaction, the chief executive officer now owns 1,765,703 shares of the company’s stock, valued at approximately $3,655,005.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,017,234 shares of company stock worth $2,237,050. 17.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently added to or reduced their stakes in EXFY. Wealthspire Advisors LLC boosted its position in shares of Expensify by 40.7% during the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after purchasing an additional 19,157 shares in the last quarter. Azora Capital LP bought a new position in Expensify during the fourth quarter worth about $61,000. Quadrature Capital Ltd acquired a new position in Expensify in the first quarter valued at about $65,000. Marshall Wace LLP bought a new stake in shares of Expensify in the second quarter worth about $53,000. Finally, Aristides Capital LLC bought a new stake in shares of Expensify in the fourth quarter worth about $134,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Expensify Price Performance

EXFY opened at $1.91 on Wednesday. The firm has a 50 day simple moving average of $2.15 and a 200 day simple moving average of $1.82. Expensify has a fifty-two week low of $1.24 and a fifty-two week high of $3.42. The company has a market cap of $165.20 million, a price-to-earnings ratio of -3.98 and a beta of 1.54.

Expensify (NASDAQ:EXFY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Expensify had a negative net margin of 22.41% and a negative return on equity of 29.82%. The business had revenue of $33.29 million for the quarter, compared to the consensus estimate of $35.69 million.

Wall Street Analyst Weigh In

Separately, JMP Securities upgraded Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 target price for the company in a research report on Friday, August 9th.

About Expensify

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.