Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells 9,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the sale, the director now owns 232,428 shares of the company’s stock, valued at $732,148.20. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Expensify Stock Up 1.7 %

Shares of NASDAQ:EXFY opened at $3.00 on Thursday. The company’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.01. The company has a market cap of $238.52 million, a P/E ratio of -16.67 and a beta of 1.83. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $4.13.

Expensify declared that its board has authorized a stock repurchase plan on Thursday, February 27th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 20.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Expensify

Several hedge funds have recently bought and sold shares of EXFY. Topline Capital Management LLC acquired a new position in shares of Expensify in the 4th quarter valued at about $3,085,000. Marshall Wace LLP increased its stake in Expensify by 72.0% in the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock valued at $4,824,000 after buying an additional 602,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Expensify by 814.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company’s stock worth $2,024,000 after buying an additional 537,993 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Expensify by 2,760.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 289,717 shares of the company’s stock valued at $971,000 after buying an additional 279,588 shares during the period. Finally, 683 Capital Management LLC purchased a new position in shares of Expensify during the 4th quarter valued at $740,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EXFY has been the subject of several research reports. Citigroup raised their price objective on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Lake Street Capital increased their price target on Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

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.