Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 18,430 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 18,430 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $1.32, for a total transaction of $24,327.60. Following the completion of the sale, the chief executive officer now directly owns 1,973,937 shares of the company’s stock, valued at approximately $2,605,596.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $24,615.60.
• On Monday, June 17th, David Michael Barrett sold 11,072 shares of Expensify stock. The stock was sold at an average price of $1.34, for a total transaction 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 stock was 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 stock was 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 stock was sold at an average price of $1.44, for a total transaction of $24,566.40.
• On Monday, June 3rd, David Michael Barrett sold 16,910 shares of Expensify stock. The stock was sold at an average price of $1.46, for a total transaction of $24,688.60.
• On Thursday, May 30th, David Michael Barrett sold 1,500 shares of Expensify stock. The shares were sold at an average price of $1.63, for a total transaction of $2,445.00.
• On Tuesday, May 28th, David Michael Barrett sold 14,390 shares of Expensify stock. The stock was sold at an average price of $1.74, for a total value of $25,038.60.

Expensify Price Performance

Shares of NASDAQ EXFY opened at $1.48 on Wednesday. The company has a market cap of $128.01 million, a price-to-earnings ratio of -3.08 and a beta of 1.46. The stock’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.81. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $8.25.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $33.50 million for 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 firm’s quarterly revenue was down 16.5% on a year-over-year basis. Equities research analysts anticipate that Expensify, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Expensify

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in Expensify by 63.5% in the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after buying an additional 21,700 shares in the last quarter. Barclays PLC raised its position in shares of Expensify by 433.4% during the 3rd quarter. Barclays PLC now owns 105,759 shares of the company’s stock worth $344,000 after acquiring an additional 85,931 shares in the last quarter. Walleye Capital LLC lifted its stake in Expensify by 396.1% during the third 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 last quarter. Aigen Investment Management LP acquired a new position in Expensify in the third quarter valued at approximately $134,000. Finally, Quadrature Capital Ltd acquired a new position in Expensify in the third quarter valued at approximately $35,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

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.