Expensify, Inc. (NASDAQ:EXFY) Short Interest Up 21.4% in March

by · The Markets Daily

Expensify, Inc. (NASDAQ:EXFY – Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 599,000 shares, an increase of 21.4% from the March 15th total of 493,600 shares. Based on an average daily volume of 418,300 shares, the short-interest ratio is currently 1.4 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Lake Street Capital boosted their target price on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, February 28th.

Get Our Latest Report on Expensify

Expensify Stock Performance

EXFY stock traded down $0.01 on Monday, hitting $2.77. 414,246 shares of the company’s stock were exchanged, compared to its average volume of 649,556. The firm has a 50 day moving average price of $3.23 and a two-hundred day moving average price of $3.08. Expensify has a 12-month low of $1.24 and a 12-month high of $4.13. The stock has a market cap of $220.23 million, a P/E ratio of -15.39 and a beta of 1.87.

Expensify declared that its Board of Directors has approved a stock buyback plan on Thursday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 20.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Expensify

In related news, Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the transaction, the director now directly owns 232,428 shares of the company’s stock, valued at $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 this link. Also, CEO David Michael Barrett sold 36,289 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.32, for a total value of $120,479.48. Following the sale, the chief executive officer now owns 2,110,914 shares of the company’s stock, valued at approximately $7,008,234.48. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,425 shares of company stock valued at $864,760 in the last ninety days. Corporate insiders own 17.33% of the company’s stock.

Institutional Trading of Expensify

A number of institutional investors have recently bought and sold shares of the stock. Mariner LLC acquired a new stake in shares of Expensify during the fourth quarter worth $34,000. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 9,997 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Expensify in the fourth quarter valued at about $39,000. Alpine Global Management LLC purchased a new position in shares of Expensify in the fourth quarter worth about $40,000. Finally, R Squared Ltd acquired a new stake in shares of Expensify during the fourth quarter worth about $46,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

About Expensify

(Get Free Report)

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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