Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 85,730 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 85,730 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1.77, for a total value of $151,742.10. Following the transaction, the chief executive officer now owns 1,468,192 shares of the company’s stock, valued at approximately $2,598,699.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 27th, David Michael Barrett sold 54,685 shares of Expensify stock. The stock was sold at an average price of $1.74, for a total value of $95,151.90.
• On Friday, March 22nd, David Michael Barrett sold 83,289 shares of Expensify stock. The stock was sold at an average price of $1.82, for a total value of $151,585.98.
• On Wednesday, March 20th, David Michael Barrett sold 11,627 shares of Expensify stock. The stock was sold at an average price of $1.91, for a total value of $22,207.57.
• On Monday, March 18th, David Michael Barrett sold 81,301 shares of Expensify stock. The stock was sold at an average price of $1.86, for a total value of $151,219.86.
• On Friday, March 15th, David Michael Barrett sold 80,082 shares of Expensify stock. The stock was sold at an average price of $1.97, for a total value of $157,761.54.
• On Monday, March 11th, David Michael Barrett sold 7,311 shares of Expensify stock. The shares were sold at an average price of $2.14, for a total value of $15,645.54.

Expensify Stock Up 2.8 %

NASDAQ EXFY opened at $1.84 on Friday. The stock’s 50-day moving average price is $1.85 and its 200-day moving average price is $2.37. Expensify, Inc. has a 52 week low of $1.52 and a 52 week high of $8.69. The company has a market capitalization of $129.87 million, a P/E ratio of -3.61 and a beta of 1.51.

Expensify (NASDAQ:EXFY) last issued its earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $35.20 million for the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The firm’s revenue for the quarter was down 19.1% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS. Research analysts anticipate that Expensify, Inc. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler dropped their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.50.

Institutional Trading of Expensify

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXFY. BlackRock Inc. raised its stake in Expensify by 287.3% during the 2nd quarter. BlackRock Inc. now owns 4,116,270 shares of the company’s stock valued at $32,848,000 after purchasing an additional 3,053,582 shares during the period. Vanguard Group Inc. grew its holdings in Expensify by 58.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after buying an additional 1,431,326 shares in the last quarter. SVB Wealth LLC grew its holdings in Expensify by 63.9% during the 4th quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock valued at $8,297,000 after buying an additional 1,309,037 shares in the last quarter. State Street Corp grew its holdings in Expensify by 252.3% during the 2nd quarter. State Street Corp now owns 1,118,721 shares of the company’s stock valued at $8,927,000 after buying an additional 801,183 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Expensify by 135.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,015,984 shares of the company’s stock valued at $8,108,000 after buying an additional 584,734 shares in the last quarter. Institutional investors 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.