Expensify (NASDAQ:EXFY) CEO David Michael Barrett Sells 30,000 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $0.85, for a total value of $25,500.00. Following the sale, the chief executive officer directly owned 1,198,480 shares in the company, valued at approximately $1,018,708. The trade was a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 24th, David Michael Barrett sold 10,114 shares of Expensify stock. The shares were sold at an average price of $0.84, for a total value of $8,495.76.
• On Tuesday, March 17th, David Michael Barrett sold 2,692 shares of Expensify stock. The shares were sold at an average price of $0.76, for a total value of $2,045.92.
• On Monday, June 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.15, for a total value of $34,500.00.
• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.08, for a total value of $32,400.00.

Expensify Stock Up 2.4%

EXFY opened at $1.28 on Friday. The firm has a market cap of $107.88 million, a P/E ratio of -5.57 and a beta of 1.79. Expensify, Inc. has a 52 week low of $0.69 and a 52 week high of $2.64. The business’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $1.21.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $33.97 million for the quarter, compared to analyst estimates of $34.25 million. Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on EXFY shares. Wall Street Zen raised Expensify from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Expensify in a research note on Friday, May 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Expensify has a consensus rating of “Reduce” and a consensus price target of $2.50.

Expensify News Roundup

Here are the key news stories impacting Expensify this week:

• Positive Sentiment: Expensify announced the final results of its modified Dutch auction tender offer, saying it accepted 6,053,023 shares at $1.20 per share. That would reduce Class A common stock outstanding by about 6.8%, a shareholder-friendly move that can improve per-share metrics and may be supporting the stock. Expensify, Inc. Announces Final Results of Tender Offer
• Positive Sentiment: The preliminary tender offer results, released earlier, already pointed to a similar outcome with expected purchases of 6,140,642 shares at $1.20 each, implying a roughly 6.9% share reduction and reinforcing the market’s view that the buyback-like transaction is accretive for remaining shareholders. Expensify, Inc. Announces Preliminary Results of Tender Offer
• Neutral Sentiment: Recent insider sales by the CEO, CFO, and several directors were disclosed, but most were small transactions tied to tax withholding from equity vesting or pre-arranged trading plans, so they are less likely to be the main driver of the stock today.

Institutional Trading of Expensify

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Expensify by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock worth $8,406,000 after buying an additional 197,702 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Expensify by 5.7% in the 4th quarter. Marshall Wace LLP now owns 1,436,707 shares of the company’s stock worth $2,169,000 after purchasing an additional 76,833 shares during the period. Millennium Management LLC raised its holdings in shares of Expensify by 103.2% in the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock worth $4,276,000 after purchasing an additional 714,244 shares during the period. Geode Capital Management LLC raised its holdings in shares of Expensify by 134.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after purchasing an additional 759,982 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Expensify by 6.7% in the 1st quarter. Renaissance Technologies LLC now owns 725,000 shares of the company’s stock worth $631,000 after purchasing an additional 45,400 shares during the period. 68.42% of the stock is owned by institutional investors and hedge funds.

Expensify Company Profile

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.