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 Expensify stock in a transaction on Monday, March 17th. The shares were sold at an average price of $3.36, for a total transaction of $91,832.16. Following the completion of the transaction, the chief executive officer now directly owns 1,889,948 shares of the company’s stock, valued at $6,350,225.28. The trade was 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 transaction 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 transaction 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 transaction 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 transaction 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 Trading Up 0.3 %

EXFY opened at $3.30 on Friday. The firm has a market capitalization of $262.37 million, a PE ratio of -18.33 and a beta of 1.83. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The firm’s 50-day moving average price is $3.51 and its 200 day moving average price is $2.96.

Expensify declared that its board has authorized a stock repurchase plan on Thursday, February 27th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 20.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EXFY shares. Citigroup lifted their target price on shares of Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Lake Street Capital boosted their price target on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, JMP Securities lowered shares of Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th.

Hedge Funds Weigh In On Expensify

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Expensify by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,218,204 shares of the company’s stock valued at $7,431,000 after purchasing an additional 20,224 shares during the last quarter. Marshall Wace LLP boosted its holdings in Expensify by 72.0% in the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after purchasing an additional 602,565 shares during the last quarter. Formula Growth Ltd. boosted its holdings in Expensify by 1.6% in the 4th quarter. Formula Growth Ltd. now owns 950,000 shares of the company’s stock valued at $3,182,000 after purchasing an additional 15,000 shares during the last quarter. Topline Capital Management LLC acquired a new position in Expensify in the 4th quarter valued at about $3,085,000. Finally, Two Sigma Investments LP boosted its holdings in Expensify by 4.8% in the 4th quarter. Two Sigma Investments LP now owns 779,341 shares of the company’s stock valued at $2,611,000 after purchasing an additional 36,049 shares during the last quarter. 68.42% of the stock is currently 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.