Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Purchases $652,775.76 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 418,446 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was purchased at an average price of $1.56 per share, with a total value of $652,775.76. Following the acquisition, the insider now owns 9,434,282 shares of the company’s stock, valued at $14,717,479.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Expensify Stock Up 1.2 %

Shares of NASDAQ EXFY opened at $1.66 on Friday. Expensify, Inc. has a 12 month low of $1.40 and a 12 month high of $8.25. The company has a market cap of $117.16 million, a price-to-earnings ratio of -3.25 and a beta of 1.48. The business has a fifty day simple moving average of $1.80 and a 200-day simple moving average of $2.06.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $36.85 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was down 19.1% on a year-over-year basis. As a group, sell-side analysts expect that Expensify, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on EXFY shares. Citigroup cut their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Piper Sandler cut their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.93.

Hedge Funds Weigh In On Expensify

Several institutional investors and hedge funds have recently bought and sold shares of the business. SVB Wealth LLC increased its holdings in Expensify by 63.9% in the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after buying an additional 1,309,037 shares during the last quarter. Palogic Value Management L.P. grew its holdings in Expensify by 33.3% during the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock valued at $1,976,000 after purchasing an additional 200,000 shares during the last quarter. Walleye Capital LLC grew its holdings in Expensify by 396.1% during the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after purchasing an additional 570,495 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Expensify by 15.2% during the third quarter. Bank of New York Mellon Corp now owns 220,490 shares of the company’s stock valued at $717,000 after purchasing an additional 29,131 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Expensify by 57,044.0% in the fourth quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock worth $398,000 after acquiring an additional 160,864 shares during the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.