Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 27,331 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16. Following the sale, the chief executive officer now owns 1,889,948 shares in the company, valued at $6,350,225.28. This represents a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

David Michael Barrett also recently made the following trade(s):

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total value of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total value of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The shares were sold at an average price of $3.68, for a total value of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The shares were sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Stock Performance

Shares of NASDAQ:EXFY opened at $3.25 on Friday. The firm has a market cap of $258.40 million, a PE ratio of -18.05 and a beta of 1.83. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13. The firm’s fifty day moving average is $3.51 and its 200-day moving average is $2.96.

Expensify declared that its board has approved a share buyback program on Thursday, February 27th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 20.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities downgraded Expensify from an “outperform” rating to a “market perform” rating in a report on Monday, November 25th. Citigroup lifted their price target on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On Expensify

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Exchange Traded Concepts LLC acquired a new position in shares of Expensify in the 4th quarter worth approximately $691,000. Walleye Capital LLC lifted its stake in Expensify by 42.1% in the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock valued at $1,183,000 after buying an additional 178,911 shares during the period. Geode Capital Management LLC lifted its stake in Expensify by 11.3% in the third quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock valued at $1,010,000 after buying an additional 52,385 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Expensify by 814.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company’s stock valued at $2,024,000 after buying an additional 537,993 shares during the period. Finally, SG Americas Securities LLC bought a new position in Expensify during the fourth quarter worth $39,000. 68.42% of the stock is owned by institutional investors and hedge funds.

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.