Expensify (NASDAQ:EXFY) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Expensify (NASDAQ:EXFY – Free Report) from a strong-buy rating to a buy rating in a report published on Sunday morning.

Separately, Lake Street Capital reduced their price target on Expensify from $5.00 to $4.50 and set a “buy” rating for the company in a research report on Friday, May 9th.

Read Our Latest Research Report on EXFY

Expensify Price Performance

NASDAQ:EXFY opened at $2.07 on Friday. Expensify has a one year low of $1.50 and a one year high of $4.13. The business has a fifty day moving average price of $2.29 and a 200-day moving average price of $2.83. The firm has a market capitalization of $166.39 million, a price-to-earnings ratio of -23.00 and a beta of 1.72.

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1.94, for a total value of $58,200.00. Following the completion of the sale, the chief executive officer owned 1,498,480 shares in the company, valued at approximately $2,907,051.20. This represents a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 113,609 shares of company stock worth $256,206. 17.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mariner LLC bought a new stake in shares of Expensify during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted 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 purchasing an additional 9,997 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Expensify during the 2nd quarter valued at about $30,000. Alpine Global Management LLC purchased a new position in shares of Expensify during the fourth quarter valued at about $40,000. Finally, Virtu Financial LLC bought a new stake in shares of Expensify in the first quarter worth about $41,000. 68.42% of the stock is currently owned by institutional investors.

About Expensify

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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.

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