Expensify, Inc. (NASDAQ:EXFY) CEO Sells $24,778.70 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 16,630 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $1.49, for a total value of $24,778.70. Following the completion of the transaction, the chief executive officer now directly owns 1,873,037 shares of the company’s stock, valued at approximately $2,790,825.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Michael Barrett also recently made the following trade(s):

• On Monday, July 1st, David Michael Barrett sold 16,200 shares of Expensify stock. The shares were sold at an average price of $1.53, for a total value of $24,786.00.
• On Wednesday, June 26th, David Michael Barrett sold 16,300 shares of Expensify stock. The shares were sold at an average price of $1.51, for a total value of $24,613.00.
• On Monday, June 24th, David Michael Barrett sold 16,860 shares of Expensify stock. The shares were sold at an average price of $1.46, for a total value of $24,615.60.
• On Thursday, June 20th, David Michael Barrett sold 18,430 shares of Expensify stock. The shares were sold at an average price of $1.32, for a total value of $24,327.60.
• On Monday, June 17th, David Michael Barrett sold 11,072 shares of Expensify stock. The shares were sold at an average price of $1.34, for a total value of $14,836.48.
• On Friday, June 14th, David Michael Barrett sold 17,740 shares of Expensify stock. The shares were sold at an average price of $1.38, for a total value of $24,481.20.
• On Wednesday, June 12th, David Michael Barrett sold 16,970 shares of Expensify stock. The shares were sold at an average price of $1.45, for a total value of $24,606.50.
• On Monday, June 10th, David Michael Barrett sold 17,110 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,638.40.
• On Friday, June 7th, David Michael Barrett sold 16,780 shares of Expensify stock. The shares were sold at an average price of $1.47, for a total value of $24,666.60.
• On Wednesday, June 5th, David Michael Barrett sold 17,060 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,566.40.

Expensify Stock Performance

Shares of NASDAQ EXFY opened at $1.50 on Wednesday. The business’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.78. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The company has a market cap of $129.74 million, a price-to-earnings ratio of -3.13 and a beta of 1.47.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The business had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. Sell-side analysts predict that Expensify, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

EXFY has been the subject of several analyst reports. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Citigroup lowered their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Expensify has a consensus rating of “Hold” and a consensus price target of $4.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC increased its holdings in Expensify by 63.5% during the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after purchasing an additional 21,700 shares during the period. Walleye Capital LLC increased its holdings in Expensify by 396.1% during the 3rd quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after purchasing an additional 570,495 shares during the period. Quadrature Capital Ltd purchased a new position in Expensify during the 3rd quarter worth $35,000. Citigroup Inc. increased its holdings in Expensify by 186.5% during the 3rd quarter. Citigroup Inc. now owns 49,589 shares of the company’s stock worth $161,000 after purchasing an additional 32,279 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in Expensify during the 4th quarter worth $75,000. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

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.