Expensify (NASDAQ:EXFY) Stock Rating Lowered by JMP Securities

JMP Securities downgraded shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a research report released on Monday, Marketbeat Ratings reports.

Expensify Stock Performance

Shares of EXFY opened at $3.27 on Monday. The firm has a market capitalization of $252.31 million, a price-to-earnings ratio of -18.17 and a beta of 1.51. Expensify has a 52 week low of $1.24 and a 52 week high of $3.47. The business’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $1.97.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 11,095 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $2.28, for a total value of $25,296.60. Following the transaction, the chief executive officer now directly owns 173,820 shares of the company’s stock, valued at approximately $396,309.60. This trade represents a 6.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ryan Schaffer sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $2.50, for a total transaction of $31,250.00. Following the sale, the chief financial officer now owns 159,295 shares of the company’s stock, valued at $398,237.50. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,607 shares of company stock worth $485,361 over the last three months. 17.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXFY. Marshall Wace LLP bought a new stake in shares of Expensify in the 2nd quarter valued at about $53,000. Quadrature Capital Ltd acquired a new stake in Expensify in the first quarter worth $65,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Expensify during the second quarter worth $86,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Expensify by 100.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after buying an additional 22,504 shares during the period. Finally, Wealthspire Advisors LLC increased its position in shares of Expensify by 40.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock valued at $99,000 after buying an additional 19,157 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

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.