Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 37,001 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 37,001 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $3.27, for a total value of $120,993.27. Following the completion of the sale, the chief executive officer now owns 1,808,231 shares of the company’s stock, valued at $5,912,915.37. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value 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 value 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 transaction of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The shares were sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The stock was sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total value of $105,000.00.

Expensify Price Performance

Shares of EXFY stock opened at $3.25 on Friday. The stock’s fifty day moving average price is $3.51 and its 200 day moving average price is $2.96. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13. The company has a market cap of $258.40 million, a price-to-earnings ratio of -18.05 and a beta of 1.83.

Expensify declared that its board has initiated a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 20.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently modified their holdings of the stock. Ceera Investments LLC grew its position in Expensify by 1.0% during the 4th quarter. Ceera Investments LLC now owns 439,330 shares of the company’s stock worth $1,472,000 after purchasing an additional 4,330 shares during the last quarter. State of Wyoming grew its holdings in shares of Expensify by 13.3% during the fourth quarter. State of Wyoming now owns 52,364 shares of the company’s stock valued at $175,000 after buying an additional 6,138 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Expensify by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,976 shares of the company’s stock valued at $1,062,000 after buying an additional 8,911 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock worth $36,000 after acquiring an additional 9,997 shares during the last quarter. Finally, Mariner LLC purchased a new position in Expensify in the 4th quarter worth $34,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JMP Securities cut Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th. Citigroup increased their price target on shares of Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Lake Street Capital lifted their price objective on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research 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.