Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Buys 248,712 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 248,712 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $355,658.16. Following the acquisition, the insider now owns 8,778,407 shares of the company’s stock, valued at approximately $12,553,122.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Trading Up 3.1 %

EXFY opened at $1.64 on Friday. Expensify, Inc. has a 12-month low of $1.40 and a 12-month high of $8.64. The company has a market cap of $115.75 million, a price-to-earnings ratio of -3.22 and a beta of 1.49. The company’s 50 day moving average is $1.81 and its 200 day moving average is $2.16.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share 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 firm had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $36.85 million. During the same period in the prior year, the firm earned ($0.04) EPS. Expensify’s revenue for the quarter was down 19.1% compared to the same quarter last year. As a group, analysts predict that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Expensify

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Expensify by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock valued at $825,000 after purchasing an additional 1,123 shares in the last quarter. Royal Bank of Canada lifted its holdings in Expensify by 117.8% during the third quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock valued at $33,000 after purchasing an additional 1,178 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Expensify by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock worth $1,282,000 after buying an additional 1,297 shares in the last quarter. UBS Group AG purchased a new position in shares of Expensify in the third quarter worth $56,000. Finally, State of Wyoming lifted its holdings in shares of Expensify by 63.5% in the second quarter. State of Wyoming now owns 11,072 shares of the company’s stock worth $88,000 after buying an additional 4,302 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.50.

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.