Expensify, Inc. (NASDAQ:EXFY) Sees Significant Increase in Short Interest

Expensify, Inc. (NASDAQ:EXFY) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 498,300 shares, an increase of 7.8% from the September 15th total of 462,300 shares. Based on an average trading volume of 659,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.9% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, JMP Securities raised shares of Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price target for the company in a research note on Friday, August 9th.

Expensify Trading Up 3.1 %

NASDAQ:EXFY opened at $1.84 on Wednesday. The company has a 50-day moving average of $2.15 and a 200-day moving average of $1.83. Expensify has a twelve month low of $1.24 and a twelve month high of $3.08. The firm has a market cap of $158.72 million, a price-to-earnings ratio of -3.82 and a beta of 1.52.

Expensify (NASDAQ:EXFY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $33.29 million during the quarter, compared to analyst estimates of $35.69 million. Expensify had a negative net margin of 22.41% and a negative return on equity of 29.82%.

Insider Activity

In related news, CEO David Michael Barrett sold 13,350 shares of Expensify stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $1.89, for a total value of $25,231.50. Following the sale, the chief executive officer now directly owns 1,679,757 shares in the company, valued at $3,174,740.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Anuradha Muralidharan sold 20,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $2.35, for a total transaction of $47,000.00. Following the transaction, the chief operating officer now directly owns 40,224 shares of the company’s stock, valued at approximately $94,526.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Michael Barrett sold 13,350 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $1.89, for a total transaction of $25,231.50. Following the completion of the sale, the chief executive officer now directly owns 1,679,757 shares of the company’s stock, valued at $3,174,740.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 860,995 shares of company stock valued at $1,934,980. 17.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Expensify

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in 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 purchasing an additional 476,687 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Expensify by 74.4% during the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after buying an additional 129,689 shares in the last quarter. Wealthspire Advisors LLC grew its stake in Expensify by 40.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock valued at $99,000 after acquiring an additional 19,157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Expensify in the 2nd quarter valued at approximately $86,000. Finally, Marshall Wace LLP purchased a new stake in Expensify in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.