Expensify, Inc. (NASDAQ:EXFY) CEO Sells $70,500.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $2.35, for a total value of $70,500.00. Following the transaction, the chief executive officer now owns 1,558,480 shares in the company, valued at $3,662,428. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, April 23rd, David Michael Barrett sold 22,873 shares of Expensify stock. The stock was sold at an average price of $2.84, for a total transaction of $64,959.32.
• On Monday, April 21st, David Michael Barrett sold 39,399 shares of Expensify stock. The stock was sold at an average price of $2.75, for a total transaction of $108,347.25.
• On Thursday, April 17th, David Michael Barrett sold 32,079 shares of Expensify stock. The stock was sold at an average price of $2.79, for a total transaction of $89,500.41.
• On Tuesday, April 15th, David Michael Barrett sold 25,686 shares of Expensify stock. The stock was sold at an average price of $2.83, for a total transaction of $72,691.38.
• On Friday, March 21st, David Michael Barrett sold 2,900 shares of Expensify stock. The stock was sold at an average price of $3.20, for a total transaction of $9,280.00.
• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total transaction of $120,993.27.
• On Monday, March 17th, David Michael Barrett sold 27,331 shares of Expensify stock. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The stock was sold at an average price of $3.43, for a total transaction of $109,008.83.

Expensify Stock Performance

Shares of EXFY opened at $2.33 on Friday. The company has a 50 day moving average price of $2.82 and a 200-day moving average price of $3.20. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.13. The stock has a market capitalization of $187.28 million, a PE ratio of -12.94 and a beta of 1.86.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EXFY. Exchange Traded Concepts LLC purchased a new position in shares of Expensify in the fourth quarter worth $691,000. JPMorgan Chase & Co. raised its holdings in shares of Expensify by 35.0% during the fourth quarter. JPMorgan Chase & Co. now owns 215,933 shares of the company’s stock worth $723,000 after purchasing an additional 55,931 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Expensify during the fourth quarter worth $68,000. American Century Companies Inc. raised its holdings in shares of Expensify by 67.7% during the fourth quarter. American Century Companies Inc. now owns 68,228 shares of the company’s stock worth $229,000 after purchasing an additional 27,541 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Expensify by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 544,680 shares of the company’s stock worth $1,825,000 after purchasing an additional 29,732 shares during the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on EXFY shares. Wall Street Zen upgraded shares of Expensify from a “buy” rating to a “strong-buy” rating in a report on Thursday. Lake Street Capital reduced their target price on shares of Expensify from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.00.

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.