Expensify, Inc. (NASDAQ:EXFY) Short Interest Up 8.7% in June

Expensify, Inc. (NASDAQ:EXFY) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 2,380,000 shares, a growth of 8.7% from the May 31st total of 2,190,000 shares. Based on an average daily trading volume, of 497,700 shares, the days-to-cover ratio is presently 4.8 days. Approximately 5.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Citigroup cut their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Expensify currently has a consensus rating of “Hold” and a consensus price target of $4.20.

Expensify Stock Up 1.3 %

Shares of NASDAQ:EXFY opened at $1.52 on Thursday. The firm has a market cap of $131.47 million, a P/E ratio of -3.17 and a beta of 1.47. Expensify has a 12-month low of $1.24 and a 12-month high of $8.25. The business has a fifty day simple moving average of $1.58 and a 200 day simple moving average of $1.78.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). The company had revenue of $33.50 million for the quarter, compared to the consensus estimate of $35.56 million. Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, equities research analysts expect that Expensify will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, COO Anuradha Muralidharan sold 17,520 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $1.50, for a total transaction of $26,280.00. Following the sale, the chief operating officer now owns 79,377 shares of the company’s stock, valued at $119,065.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Expensify news, major shareholder Steven J. Mclaughlin bought 24,529 shares of Expensify stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $1.45 per share, with a total value of $35,567.05. Following the acquisition, the insider now owns 9,816,732 shares in the company, valued at approximately $14,234,261.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anuradha Muralidharan sold 17,520 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $1.50, for a total value of $26,280.00. Following the completion of the sale, the chief operating officer now directly owns 79,377 shares in the company, valued at approximately $119,065.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 935,542 shares of company stock valued at $1,406,410 and have sold 592,437 shares valued at $918,632. 17.33% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in Expensify during the 3rd quarter worth $35,000. Corton Capital Inc. bought a new position in shares of Expensify in the 3rd quarter worth about $37,000. FNY Investment Advisers LLC raised its position in shares of Expensify by 212.5% in the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock worth $30,000 after acquiring an additional 8,500 shares in the last quarter. Azora Capital LP bought a new position in shares of Expensify in the 4th quarter worth about $61,000. Finally, Mackenzie Financial Corp bought a new position in shares of Expensify in the 4th quarter worth about $75,000. 68.42% of the stock is owned by 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.