Steven J. Mclaughlin Buys 123,217 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFYGet Free Report) major shareholder Steven J. Mclaughlin acquired 123,217 shares of Expensify stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $178,664.65. Following the purchase, the insider now directly owns 9,939,949 shares of the company’s stock, valued at approximately $14,412,926.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Trading Down 4.5 %

NASDAQ:EXFY traded down $0.09 on Wednesday, hitting $1.91. 3,045,025 shares of the stock were exchanged, compared to its average volume of 800,934. The stock has a fifty day moving average of $1.58 and a 200-day moving average of $1.76. The stock has a market cap of $165.20 million, a PE ratio of -4.31 and a beta of 1.47. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.25.

Expensify (NASDAQ:EXFYGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same quarter in the previous year, the business posted ($0.07) EPS. The company’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, analysts predict that Expensify, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EXFY shares. JMP Securities reiterated a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Citigroup dropped their price objective on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Expensify presently has a consensus rating of “Hold” and an average target price of $4.20.

View Our Latest Report on Expensify

Hedge Funds Weigh In On Expensify

A number of hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC increased its holdings in Expensify by 212.5% in the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after purchasing an additional 8,500 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Expensify in the third quarter worth about $35,000. Azora Capital LP acquired a new stake in shares of Expensify in the fourth quarter valued at about $61,000. Mackenzie Financial Corp purchased a new stake in shares of Expensify during the 4th quarter valued at about $75,000. Finally, Citigroup Inc. raised its holdings in shares of Expensify by 186.5% during the 3rd quarter. Citigroup Inc. now owns 49,589 shares of the company’s stock valued at $161,000 after buying an additional 32,279 shares during the period. Hedge funds and other institutional investors own 68.42% of the company’s stock.

About Expensify

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Expensify (NASDAQ:EXFY)

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