Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 32,079 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 32,079 shares of the business’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $2.79, for a total value of $89,500.41. Following the completion of the sale, the chief executive officer now directly owns 1,673,744 shares of the company’s stock, valued at approximately $4,669,745.76. This trade represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 value of $72,691.38.
• On Friday, March 21st, David Michael Barrett sold 2,900 shares of Expensify stock. The shares were sold at an average price of $3.20, for a total value 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 shares were 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 shares were sold at an average price of $3.43, for a total transaction of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The stock was sold at an average price of $3.68, for a total transaction of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The stock was sold at an average price of $3.32, for a total value of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total value of $110,732.93.

Expensify Price Performance

Shares of EXFY opened at $2.78 on Friday. The company has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $3.06. The firm has a market capitalization of $221.03 million, a PE ratio of -15.44 and a beta of 1.87. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13.

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

Institutional Investors Weigh In On Expensify

Several hedge funds have recently made changes to their positions in the company. Mariner LLC purchased a new position in Expensify during the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in Expensify by 1,194.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock valued at $36,000 after acquiring an additional 9,997 shares during the period. SG Americas Securities LLC bought a new stake in Expensify during the fourth quarter worth about $39,000. Alpine Global Management LLC bought a new stake in Expensify during the fourth quarter worth about $40,000. Finally, R Squared Ltd purchased a new stake in Expensify in the fourth quarter worth about $46,000. 68.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price target on shares of Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th.

About Expensify

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.