Insider Buying: Expensify (NASDAQ:EXFY) Major Shareholder Acquires 455,911 Shares of Stock
by Renee Jackson · The Cerbat GemExpensify, Inc. (NASDAQ:EXFY – Get Free Report) major shareholder Steven Mclaughlin purchased 455,911 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were purchased at an average price of $0.95 per share, with a total value of $433,115.45. Following the completion of the acquisition, the insider directly owned 11,703,393 shares of the company’s stock, valued at approximately $11,118,223.35. This trade represents a 4.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Expensify Stock Performance
Shares of NASDAQ:EXFY traded up $0.02 during midday trading on Wednesday, hitting $0.77. The company’s stock had a trading volume of 1,228,277 shares, compared to its average volume of 743,140. The stock has a market capitalization of $62.00 million, a price-to-earnings ratio of -3.19 and a beta of 1.74. The stock’s 50 day simple moving average is $1.25 and its 200 day simple moving average is $1.52. Expensify, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $3.60.
Expensify (NASDAQ:EXFY – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.13). Expensify had a negative return on equity of 16.00% and a negative net margin of 15.05%.The business had revenue of $35.20 million for the quarter, compared to analyst estimates of $35.50 million.
Institutional Trading of Expensify
A number of institutional investors and hedge funds have recently modified their holdings of EXFY. Abel Hall LLC acquired a new position in shares of Expensify in the fourth quarter valued at $25,000. SG Americas Securities LLC acquired a new stake in Expensify during the fourth quarter worth $27,000. Savant Capital LLC bought a new stake in Expensify in the 3rd quarter valued at $30,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Expensify in the 2nd quarter valued at $32,000. Finally, ProShare Advisors LLC acquired a new position in shares of Expensify in the 2nd quarter valued at $32,000. 68.42% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on EXFY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. Wall Street Zen downgraded shares of Expensify from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.50.
Read Our Latest Report on EXFY
Expensify Company Profile
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.