Steven J. Mclaughlin Acquires 24,529 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 24,529 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $1.45 per share, with a total value of $35,567.05. Following the completion of the transaction, the insider now owns 9,816,732 shares in the company, valued at $14,234,261.40. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Trading Up 1.3 %

EXFY opened at $1.52 on Thursday. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The company’s 50-day moving average price is $1.58 and its 200 day moving average price is $1.78.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data 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). The business had revenue of $33.50 million for the quarter, compared to analyst estimates of $35.56 million. Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. Expensify’s revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. Equities analysts expect that Expensify, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EXFY. Citigroup decreased their price objective on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, JMP Securities restated 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 given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.20.

Institutional Investors Weigh In On Expensify

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of 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 purchasing an additional 21,700 shares during the period. Walleye Capital LLC boosted its holdings in shares of Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after acquiring an additional 570,495 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Expensify in the third quarter valued at approximately $35,000. Citigroup Inc. boosted its holdings in shares of Expensify by 186.5% in the third quarter. Citigroup Inc. now owns 49,589 shares of the company’s stock valued at $161,000 after acquiring an additional 32,279 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Expensify in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.