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

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.45, for a total transaction 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. This represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 2nd, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.50, for a total value of $45,000.00.
• On Tuesday, December 30th, David Michael Barrett sold 14,463 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total value of $21,983.76.
• On Wednesday, December 17th, David Michael Barrett sold 2,544 shares of Expensify stock. The stock was sold at an average price of $1.55, for a total value of $3,943.20.
• On Monday, December 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total value of $45,600.00.

Expensify Stock Performance

NASDAQ EXFY opened at $1.45 on Thursday. Expensify, Inc. has a one year low of $1.30 and a one year high of $4.00. The company has a market capitalization of $117.22 million, a price-to-earnings ratio of -8.53 and a beta of 1.69. The company’s 50-day simple moving average is $1.50 and its two-hundred day simple moving average is $1.69.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $35.07 million for the quarter, compared to the consensus estimate of $35.65 million. Expensify had a negative net margin of 10.83% and a negative return on equity of 11.75%.

Institutional Investors Weigh In On Expensify

A number of large investors have recently made changes to their positions in EXFY. Millennium Management LLC increased its position 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 valued at $4,276,000 after acquiring an additional 714,244 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Expensify in the first quarter valued at approximately $142,000. Palogic Value Management L.P. boosted its position in Expensify by 24.0% in the second quarter. Palogic Value Management L.P. now owns 501,420 shares of the company’s stock valued at $1,299,000 after buying an additional 96,935 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Expensify by 21.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,120,990 shares of the company’s stock worth $2,903,000 after buying an additional 194,321 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Expensify by 46.1% during the 2nd quarter. Acadian Asset Management LLC now owns 2,071,772 shares of the company’s stock valued at $5,359,000 after acquiring an additional 653,260 shares during the period. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EXFY. Wall Street Zen lowered Expensify from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.50.

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.