Expensify (NASDAQ:EXFY) Lowered to “Market Perform” Rating by JMP Securities

JMP Securities downgraded shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat reports.

Expensify Trading Down 3.8 %

NASDAQ EXFY opened at $3.27 on Monday. Expensify has a 1-year low of $1.24 and a 1-year high of $3.47. The company has a market capitalization of $252.31 million, a price-to-earnings ratio of -18.17 and a beta of 1.51. The stock’s 50 day moving average is $2.14 and its two-hundred day moving average is $1.95.

Insider Buying and Selling at Expensify

In other Expensify news, CFO Ryan Schaffer sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $2.27, for a total value of $28,375.00. Following the completion of the sale, the chief financial officer now owns 152,531 shares in the company, valued at approximately $346,245.37. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Michael Barrett sold 645,938 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $2.34, for a total transaction of $1,511,494.92. Following the transaction, the chief executive officer now owns 2,567,093 shares in the company, valued at $6,006,997.62. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 831,545 shares of company stock valued at $1,996,856. 17.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new stake in Expensify in the first quarter worth about $65,000. Marshall Wace LLP acquired a new stake in Expensify during the 2nd quarter worth $53,000. Dynamic Technology Lab Private Ltd lifted its stake in shares of Expensify by 100.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after purchasing an additional 22,504 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Expensify in the 2nd quarter worth $86,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock valued at $130,000 after purchasing an additional 28,731 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors.

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.