Insider Selling: Expensify (NASDAQ:EXFY) CEO Sells 30,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $1.50, for a total value of $45,000.00. Following the sale, the chief executive officer directly owned 1,348,480 shares in the company, valued at $2,022,720. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, December 30th, David Michael Barrett sold 14,463 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total transaction of $21,983.76.
• On Wednesday, December 17th, David Michael Barrett sold 2,544 shares of Expensify stock. The stock was sold at an average price of $1.55, for a total transaction of $3,943.20.
• On Monday, December 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total transaction of $45,600.00.
• On Monday, November 3rd, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.60, for a total transaction of $48,000.00.

Expensify Price Performance

Shares of NASDAQ EXFY traded up $0.01 during mid-day trading on Monday, hitting $1.46. 667,850 shares of the company’s stock traded hands, compared to its average volume of 683,318. The company’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.84. The company has a market capitalization of $118.03 million, a P/E ratio of -8.59 and a beta of 1.69. Expensify, Inc. has a 1 year low of $1.33 and a 1 year high of $4.00.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). The company had revenue of $35.07 million for the quarter, compared to the consensus estimate of $35.65 million. Expensify had a negative return on equity of 11.75% and a negative net margin of 10.83%.

Analysts Set New Price Targets

Several research firms have commented on EXFY. Wall Street Zen lowered shares of Expensify from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.50.

Institutional Trading of Expensify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXFY. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Expensify by 21.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,120,990 shares of the company’s stock valued at $2,903,000 after acquiring an additional 194,321 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Expensify by 64.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,418,512 shares of the company’s stock worth $4,308,000 after purchasing an additional 557,533 shares during the last quarter. Palogic Value Management L.P. grew its holdings in shares of Expensify by 24.0% during the second quarter. Palogic Value Management L.P. now owns 501,420 shares of the company’s stock worth $1,299,000 after buying an additional 96,935 shares in the last quarter. Integrated Quantitative Investments LLC raised its position in shares of Expensify by 215.1% in the second quarter. Integrated Quantitative Investments LLC now owns 141,182 shares of the company’s stock valued at $366,000 after buying an additional 96,372 shares during the last quarter. Finally, Millington Financial Advisors LLC purchased a new position in shares of Expensify in the second quarter worth about $104,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

About Expensify

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.