Expensify (NASDAQ:EXFY) Major Shareholder Steven Mclaughlin Acquires 500,000 Shares

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin acquired 500,000 shares of Expensify stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average cost of $0.97 per share, for a total transaction of $485,000.00. Following the completion of the purchase, the insider owned 10,439,949 shares in the company, valued at approximately $10,126,750.53. The trade was a 5.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Expensify Price Performance

Shares of EXFY traded up $0.02 during trading hours on Wednesday, hitting $0.77. 1,228,277 shares of the stock were exchanged, compared to its average volume of 743,140. Expensify, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $3.60. The business has a 50-day moving average of $1.25 and a 200-day moving average of $1.52. The firm has a market capitalization of $62.00 million, a P/E ratio of -3.19 and a beta of 1.74.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.13). The firm had revenue of $35.20 million during the quarter, compared to analyst estimates of $35.50 million. Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%.

Institutional Investors Weigh In On Expensify

A number of large investors have recently bought and sold shares of EXFY. Abel Hall LLC acquired a new position in shares of Expensify during the fourth quarter valued at about $25,000. SG Americas Securities LLC bought a new position in shares of Expensify during the 4th quarter worth about $27,000. Savant Capital LLC acquired a new stake in shares of Expensify in the 3rd quarter valued at about $30,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Expensify in the 2nd quarter valued at about $32,000. Finally, ProShare Advisors LLC bought a new stake in Expensify in the 2nd quarter valued at about $32,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXFY has been the topic of several research analyst reports. Wall Street Zen lowered Expensify from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Expensify presently has an average rating of “Hold” and a consensus price target of $3.50.

About Expensify

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.