Expensify, Inc. (NASDAQ:EXFY) Short Interest Up 8.7% in June

Expensify, Inc. (NASDAQ:EXFY) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,380,000 shares, a growth of 8.7% from the May 31st total of 2,190,000 shares. Currently, 5.4% of the company’s stock are sold short. Based on an average daily trading volume, of 497,700 shares, the short-interest ratio is presently 4.8 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EXFY shares. Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. JMP Securities reiterated a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. Finally, Citigroup lowered their price objective 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Expensify has a consensus rating of “Hold” and a consensus price target of $4.20.

Insider Transactions at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin purchased 135,158 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $1.50 per share, with a total value of $202,737.00. Following the purchase, the insider now directly owns 8,989,644 shares of the company’s stock, valued at $13,484,466. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO David Michael Barrett sold 14,091 shares of Expensify stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1.78, for a total value of $25,081.98. Following the sale, the chief executive officer now owns 892,158 shares of the company’s stock, valued at $1,588,041.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 135,158 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $1.50 per share, for a total transaction of $202,737.00. Following the acquisition, the insider now directly owns 8,989,644 shares of the company’s stock, valued at approximately $13,484,466. The disclosure for this purchase can be found here. Over the last three months, insiders bought 911,013 shares of company stock valued at $1,370,843 and sold 575,399 shares valued at $893,860. 17.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Expensify

Hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in shares of Expensify during the first quarter worth approximately $65,000. Acadian Asset Management LLC increased its position in Expensify by 74.4% during the 1st quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after buying an additional 129,689 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Expensify by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after buying an additional 476,687 shares in the last quarter. Palogic Value Management L.P. boosted its position in shares of Expensify by 33.3% in the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after acquiring an additional 200,000 shares during the period. Finally, Azora Capital LP acquired a new position in shares of Expensify in the fourth quarter valued at about $61,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Expensify Price Performance

Expensify stock traded down $0.05 during mid-day trading on Tuesday, hitting $1.51. 47,950 shares of the company’s stock traded hands, compared to its average volume of 623,562. The firm has a 50 day simple moving average of $1.58 and a two-hundred day simple moving average of $1.79. Expensify has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The stock has a market cap of $130.60 million, a price-to-earnings ratio of -3.25 and a beta of 1.47.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). The company had revenue of $33.50 million during the quarter, compared to the consensus estimate of $35.56 million. Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. Expensify’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) earnings per share. On average, research analysts anticipate that Expensify will post -0.11 earnings per share for the current fiscal year.

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.