Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Steven J. Mclaughlin Buys 135,158 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin purchased 135,158 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average price of $1.50 per share, for a total transaction of $202,737.00. Following the acquisition, the insider now owns 8,989,644 shares of the company’s stock, valued at approximately $13,484,466. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Stock Performance

EXFY stock opened at $1.64 on Friday. Expensify, Inc. has a 12-month low of $1.40 and a 12-month high of $8.64. The company’s fifty day simple moving average is $1.81 and its 200 day simple moving average is $2.16.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $35.20 million during the quarter, compared to analyst estimates of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. Expensify’s quarterly revenue was down 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. Sell-side analysts expect that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Expensify

Several hedge funds and other institutional investors have recently bought and sold shares of EXFY. BlackRock Inc. lifted its holdings in Expensify by 287.3% in the second quarter. BlackRock Inc. now owns 4,116,270 shares of the company’s stock valued at $32,848,000 after buying an additional 3,053,582 shares during the period. Vanguard Group Inc. raised its holdings in shares of Expensify by 58.8% during the third quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after purchasing an additional 1,431,326 shares during the period. SVB Wealth LLC raised its holdings in shares of Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock valued at $8,297,000 after purchasing an additional 1,309,037 shares during the period. State Street Corp raised its holdings in shares of Expensify by 252.3% during the second quarter. State Street Corp now owns 1,118,721 shares of the company’s stock valued at $8,927,000 after purchasing an additional 801,183 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Expensify by 135.6% during the second quarter. Geode Capital Management LLC now owns 1,015,984 shares of the company’s stock valued at $8,108,000 after purchasing an additional 584,734 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.50.

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.