Expensify, Inc. (NASDAQ:EXFY) Short Interest Update

Expensify, Inc. (NASDAQ:EXFY) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,491,932 shares, a decline of 66.7% from the June 15th total of 4,478,511 shares. Based on an average daily volume of 3,696,655 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.0% of the company’s stock are sold short.

Expensify Stock Down 0.6%

EXFY stock traded down $0.01 during trading on Wednesday, hitting $1.80. 348,185 shares of the company’s stock traded hands, compared to its average volume of 1,026,561. The stock has a market capitalization of $151.62 million, a price-to-earnings ratio of -7.85 and a beta of 1.68. Expensify has a 52 week low of $0.69 and a 52 week high of $2.35. The stock has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.22.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results 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 company had revenue of $33.97 million during the quarter, compared to the consensus estimate of $34.25 million.

Analysts Set New Price Targets

EXFY has been the subject of several recent analyst reports. Wall Street Zen raised shares of Expensify from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings raised shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Expensify has an average rating of “Reduce” and an average target price of $2.50.

Insider Buying and Selling

In related news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.15, for a total value of $34,500.00. Following the completion of the sale, the chief executive officer owned 1,228,480 shares in the company, valued at approximately $1,412,752. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1.01, for a total transaction of $31,035.28. Following the completion of the sale, the director directly owned 254,780 shares in the company, valued at $257,327.80. This represents a 10.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,728 shares of company stock worth $109,235. 11.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Expensify

Several institutional investors have recently modified their holdings of EXFY. Wells Fargo & Company MN raised its holdings in shares of Expensify by 59.9% during the fourth quarter. Wells Fargo & Company MN now owns 70,036 shares of the company’s stock valued at $106,000 after acquiring an additional 26,238 shares during the period. HRT Financial LP acquired a new position in Expensify in the 4th quarter worth approximately $68,000. Coldstream Capital Management Inc. purchased a new position in Expensify during the 3rd quarter worth approximately $93,000. Prelude Capital Management LLC grew its position in Expensify by 68.5% during the 3rd quarter. Prelude Capital Management LLC now owns 36,400 shares of the company’s stock worth $67,000 after purchasing an additional 14,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Expensify during the 2nd quarter valued at $85,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.