Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Steven J. Mclaughlin Purchases 7,208 Shares

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 7,208 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $10,379.52. Following the purchase, the insider now owns 9,696,679 shares in the company, valued at approximately $13,963,217.76. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Stock Down 2.0 %

Expensify stock opened at $1.45 on Thursday. The firm has a 50-day moving average price of $1.59 and a two-hundred day moving average price of $1.81. The firm has a market capitalization of $125.41 million, a price-to-earnings ratio of -3.02 and a beta of 1.46. Expensify, Inc. has a 52-week low of $1.24 and a 52-week high of $8.25.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in shares of Expensify during the 1st quarter worth about $65,000. Acadian Asset Management LLC raised its position in shares of Expensify by 74.4% during the 1st quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after buying an additional 129,689 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Expensify by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after buying an additional 476,687 shares in the last quarter. Palogic Value Management L.P. raised its position in shares of Expensify by 33.3% during the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after buying an additional 200,000 shares in the last quarter. Finally, Azora Capital LP bought a new stake in shares of Expensify during the 4th quarter worth about $61,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EXFY. Citigroup dropped their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. JMP Securities reissued a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Finally, Morgan Stanley raised shares of Expensify from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.20.

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.