Quantbot Technologies LP Takes Position in Expensify, Inc. (NASDAQ:EXFY)

Quantbot Technologies LP purchased a new stake in shares of Expensify, Inc. (NASDAQ:EXFY) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 20,300 shares of the company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Ceera Investments LLC raised its holdings in Expensify by 1.0% during the 4th quarter. Ceera Investments LLC now owns 439,330 shares of the company’s stock valued at $1,472,000 after acquiring an additional 4,330 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Expensify by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,976 shares of the company’s stock valued at $1,062,000 after purchasing an additional 8,911 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Expensify during the 4th quarter valued at $39,000. R Squared Ltd purchased a new stake in Expensify during the 4th quarter worth about $46,000. Finally, XTX Topco Ltd lifted its holdings in Expensify by 29.6% during the 3rd quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after purchasing an additional 15,730 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EXFY has been the topic of several analyst reports. Lake Street Capital upped 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. Citigroup upped their target price on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th.

Expensify Stock Down 3.0 %

Shares of NASDAQ EXFY opened at $2.95 on Wednesday. The stock’s 50-day simple moving average is $3.49 and its two-hundred day simple moving average is $3.01. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The firm has a market capitalization of $234.55 million, a P/E ratio of -16.39 and a beta of 1.83.

Expensify announced that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 20.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Expensify

In other Expensify news, Director Daniel Vidal sold 9,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $732,148.20. This trade represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Michael Barrett sold 32,473 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $3.41, for a total value of $110,732.93. Following the completion of the transaction, the chief executive officer now owns 2,147,203 shares of the company’s stock, valued at $7,321,962.23. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,133 shares of company stock valued at $918,301. 17.33% of the stock is owned by corporate insiders.

Expensify Company Profile

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.