David Michael Barrett Sells 30,000 Shares of Expensify (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.15, for a total value of $34,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,228,480 shares in the company, valued at $1,412,752. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.08, for a total transaction of $32,400.00.

Expensify Stock Down 1.7%

EXFY opened at $1.16 on Thursday. Expensify, Inc. has a 52-week low of $0.69 and a 52-week high of $2.64. The company has a 50 day moving average of $0.99 and a two-hundred day moving average of $1.22. The company has a market cap of $97.76 million, a P/E ratio of -5.04 and a beta of 1.79.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Expensify had a negative return on equity of 15.26% and a negative net margin of 14.68%.The business had revenue of $33.97 million for the quarter, compared to analysts’ expectations of $34.25 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXFY. Abel Hall LLC purchased a new position in Expensify in the fourth quarter valued at about $25,000. SG Americas Securities LLC purchased a new position in Expensify in the fourth quarter valued at about $27,000. Savant Capital LLC purchased a new stake in shares of Expensify during the third quarter worth about $30,000. Franklin Resources Inc. purchased a new stake in shares of Expensify during the third quarter worth about $34,000. Finally, Balyasny Asset Management L.P. increased its position in shares of Expensify by 126.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after acquiring an additional 17,634 shares during the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on EXFY shares. Wall Street Zen raised Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Expensify presently has a consensus rating of “Reduce” and an average target price of $2.50.

Expensify Company Profile

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.