Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells 9,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the completion of the sale, the director now owns 232,428 shares in the company, valued at approximately $732,148.20. This trade represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Expensify Trading Down 2.3 %

Shares of NASDAQ:EXFY traded down $0.07 during trading on Monday, reaching $3.04. 321,426 shares of the stock were exchanged, compared to its average volume of 662,771. The firm has a market cap of $241.70 million, a PE ratio of -16.89 and a beta of 1.83. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.13. The stock has a 50-day moving average price of $3.51 and a 200-day moving average price of $3.01.

Expensify announced that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 20.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Lake Street Capital increased their price target on Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th. Citigroup lifted their target price on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th.

Institutional Investors Weigh In On Expensify

A number of institutional investors have recently added to or reduced their stakes in the business. Mariner LLC acquired a new position in Expensify during the fourth quarter worth $34,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 buying an additional 9,997 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Expensify in the fourth quarter worth approximately $39,000. Alpine Global Management LLC bought a new stake in shares of Expensify during the 4th quarter valued at about $40,000. Finally, R Squared Ltd bought a new stake in shares of Expensify in the 4th quarter worth approximately $46,000. 68.42% of the stock is 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.