Expensify, Inc. (NASDAQ:EXFY) CEO Sells $91,832.16 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16. Following the transaction, the chief executive officer now owns 1,889,948 shares of the company’s stock, valued at $6,350,225.28. The trade was a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total value of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total value of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The shares were sold at an average price of $3.68, for a total value of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The shares were sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Price Performance

EXFY opened at $3.25 on Friday. The business has a fifty day simple moving average of $3.51 and a 200 day simple moving average of $2.96. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13. The company has a market capitalization of $258.40 million, a PE ratio of -18.05 and a beta of 1.83.

Expensify declared that its board has approved a stock buyback plan on Thursday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 20.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

EXFY has been the subject of a number of research analyst reports. Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Citigroup lifted their target price on Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, JMP Securities lowered shares of Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th.

Hedge Funds Weigh In On Expensify

Several institutional investors and hedge funds have recently modified their holdings of EXFY. Mariner LLC acquired a new position in shares of Expensify during the 4th quarter worth approximately $34,000. Tower Research Capital LLC TRC grew its position in Expensify by 1,194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock worth $36,000 after buying an additional 9,997 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Expensify during the fourth quarter worth approximately $39,000. Alpine Global Management LLC acquired a new stake in Expensify during the fourth quarter worth approximately $40,000. Finally, R Squared Ltd acquired a new stake in Expensify during the fourth quarter worth approximately $46,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

About Expensify

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company’s platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.