Insider Selling: Expensify (NASDAQ:EXFY) CEO Sells 30,000 Shares of Stock

by · The Cerbat Gem

Expensify, Inc. (NASDAQ:EXFY – Get Free Report) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $1.08, for a total transaction of $32,400.00. Following the completion of the sale, the chief executive officer directly owned 1,258,480 shares in the company, valued at approximately $1,359,158.40. The trade was a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Expensify Stock Performance

NASDAQ:EXFY traded down $0.05 during mid-day trading on Monday, hitting $0.97. 588,387 shares of the company’s stock traded hands, compared to its average volume of 572,060. The firm’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $1.27. Expensify, Inc. has a 1 year low of $0.69 and a 1 year high of $2.64.

Expensify (NASDAQ:EXFY – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.04). Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%. The business had revenue of $33.97 million during the quarter, compared to analysts’ expectations of $34.25 million.

Hedge Funds Weigh In On Expensify

A number of large investors have recently modified their holdings of EXFY. Hsbc Holdings PLC grew its holdings in shares of Expensify by 32.0% during the 4th quarter. Hsbc Holdings PLC now owns 84,329 shares of the company’s stock worth $127,000 after purchasing an additional 20,465 shares during the period. Mackenzie Financial Corp purchased a new position in Expensify in the fourth quarter valued at approximately $240,000. XTX Topco Ltd lifted its position in Expensify by 5.6% during the fourth quarter. XTX Topco Ltd now owns 191,397 shares of the company’s stock valued at $289,000 after buying an additional 10,150 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Expensify by 126.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after buying an additional 17,634 shares during the period. Finally, Abel Hall LLC purchased a new stake in Expensify during the fourth quarter worth approximately $25,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXFY. Wall Street Zen raised Expensify from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Expensify in a report on Friday, May 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.50.

View Our Latest Report on Expensify

About Expensify

(Get Free Report)

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.

Further Reading