Short Interest in Expensify, Inc. (NASDAQ:EXFY) Expands By 36.1%

Expensify, Inc. (NASDAQ:EXFY) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 3,543,978 shares, a growth of 36.1% from the February 26th total of 2,604,818 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,186,696 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

A number of research firms recently weighed in on EXFY. Wall Street Zen upgraded Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.50.

Insider Activity at Expensify

In related news, major shareholder Steven J. Mclaughlin acquired 500,000 shares of Expensify stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average cost of $0.84 per share, with a total value of $420,000.00. Following the purchase, the insider directly owned 12,203,393 shares in the company, valued at $10,250,850.12. The trade was a 4.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.45, for a total value of $43,500.00. Following the completion of the transaction, the chief executive officer owned 1,318,480 shares in the company, valued at $1,911,796. The trade was a 2.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,263,444 shares of company stock worth $2,132,976 and sold 66,504 shares worth $98,256. Insiders own 12.27% of the company’s stock.

Institutional Investors Weigh In On Expensify

A number of institutional investors have recently bought and sold shares of EXFY. Abel Hall LLC purchased a new position in Expensify during the 4th quarter valued at about $25,000. SG Americas Securities LLC acquired a new position in shares of Expensify in the 4th quarter valued at about $27,000. Savant Capital LLC purchased a new stake in shares of Expensify in the third quarter worth approximately $30,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Expensify during the second quarter worth approximately $32,000. Finally, Franklin Resources Inc. purchased a new position in Expensify during the third quarter valued at approximately $34,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Expensify Stock Performance

NASDAQ EXFY opened at $0.82 on Tuesday. The firm’s 50 day moving average price is $1.14 and its two-hundred day moving average price is $1.45. Expensify has a twelve month low of $0.69 and a twelve month high of $3.28. The stock has a market cap of $66.67 million, a price-to-earnings ratio of -3.43 and a beta of 1.74.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). The business had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $35.50 million. Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%.

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.