Expensify, Inc. (NASDAQ:EXFY) Short Interest Down 49.8% in July

Expensify, Inc. (NASDAQ:EXFY) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 749,354 shares, a drop of 49.8% from the June 30th total of 1,491,932 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 1,288,884 shares, the days-to-cover ratio is presently 0.6 days.

Expensify Stock Up 2.5%

EXFY traded up $0.04 on Wednesday, hitting $1.83. 425,588 shares of the company traded hands, compared to its average volume of 1,003,191. Expensify has a 12-month low of $0.69 and a 12-month high of $2.18. The company has a 50 day moving average of $1.50 and a 200-day moving average of $1.24. The stock has a market capitalization of $154.65 million, a PE ratio of -7.98 and a beta of 1.68.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%. The company had revenue of $33.97 million during the quarter, compared to analysts’ expectations of $34.25 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $2.50.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $1.15, for a total value of $34,500.00. Following the sale, the chief executive officer directly owned 1,228,480 shares in the company, valued at $1,412,752. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 70,000 shares of company stock worth $78,200. Insiders own 11.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EXFY. Geode Capital Management LLC boosted its holdings in Expensify by 134.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after purchasing an additional 759,982 shares in the last quarter. Millennium Management LLC raised its stake in shares of Expensify by 103.2% during the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after buying an additional 714,244 shares in the last quarter. Pale Fire Capital SE purchased a new position in shares of Expensify during the 1st quarter worth approximately $418,000. Vanguard Group Inc. lifted its holdings in shares of Expensify by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock valued at $8,406,000 after buying an additional 197,702 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in shares of Expensify in the 4th quarter valued at approximately $240,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

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.