Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells 9,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the transaction, the director now directly owns 232,428 shares of the company’s stock, valued at $732,148.20. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Expensify Trading Down 3.0 %

Shares of Expensify stock opened at $2.95 on Wednesday. The stock has a market capitalization of $234.55 million, a price-to-earnings ratio of -16.39 and a beta of 1.83. The firm’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $3.01. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on EXFY shares. Lake Street Capital raised their price target on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Citigroup raised their target price on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th.

Hedge Funds Weigh In On Expensify

Several institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock valued at $130,000 after buying an additional 28,731 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Expensify by 25.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock valued at $604,000 after acquiring an additional 63,052 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after acquiring an additional 22,504 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Expensify by 42.1% during the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after purchasing an additional 178,911 shares in the last quarter. Finally, RBF Capital LLC grew its stake in shares of Expensify by 10.9% during the third quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock valued at $946,000 after purchasing an additional 47,389 shares during the last quarter. Institutional investors own 68.42% of the company’s stock.

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.