Expensify, Inc. (NASDAQ:EXFY) Short Interest Down 66.7% in June

Expensify, Inc. (NASDAQ:EXFY) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 1,491,932 shares, a decrease of 66.7% from the June 15th total of 4,478,511 shares. Based on an average daily trading volume, of 3,696,655 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.0% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1.01, for a total transaction of $31,035.28. Following the transaction, the director owned 254,780 shares in the company, valued at approximately $257,327.80. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.15, for a total value of $34,500.00. Following the completion of the sale, the chief executive officer owned 1,228,480 shares of the company’s stock, valued at $1,412,752. The trade was a 2.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,728 shares of company stock worth $109,235 in the last three months. Corporate insiders own 11.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EXFY. Renaissance Technologies LLC raised its stake in shares of Expensify by 6.7% during the 1st quarter. Renaissance Technologies LLC now owns 725,000 shares of the company’s stock worth $631,000 after acquiring an additional 45,400 shares in the last quarter. Pale Fire Capital SE acquired a new stake in Expensify in the first quarter valued at approximately $418,000. Hsbc Holdings PLC boosted its stake in Expensify by 32.0% in the fourth quarter. Hsbc Holdings PLC now owns 84,329 shares of the company’s stock valued at $127,000 after acquiring an additional 20,465 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Expensify in the fourth quarter worth $240,000. Finally, XTX Topco Ltd increased its position in shares of Expensify by 5.6% during the fourth quarter. XTX Topco Ltd now owns 191,397 shares of the company’s stock worth $289,000 after purchasing an additional 10,150 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Expensify Trading Up 0.9%

Shares of EXFY traded up $0.02 during trading hours on Tuesday, hitting $1.81. The company had a trading volume of 779,794 shares, compared to its average volume of 1,030,583. The company has a market capitalization of $152.21 million, a PE ratio of -7.87 and a beta of 1.68. Expensify has a one year low of $0.69 and a one year high of $2.35. The company’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.22.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $34.25 million.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXFY. Weiss Ratings upgraded shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of Expensify from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Expensify has a consensus rating of “Reduce” and a consensus target price of $2.50.

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.