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

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 1,228,480 shares in the company, valued at approximately $1,412,752. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Trading Up 0.9%

EXFY traded up $0.01 during trading on Tuesday, hitting $1.18. The company’s stock had a trading volume of 280,973 shares, compared to its average volume of 719,541. Expensify, Inc. has a twelve month low of $0.69 and a twelve month high of $2.64. The business’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.22. The firm has a market capitalization of $99.45 million, a price-to-earnings ratio of -5.13 and a beta of 1.79.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04). The business had revenue of $33.97 million during 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%.

Hedge Funds Weigh In On Expensify

Institutional investors have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. purchased a new position in Expensify during the third quarter worth approximately $93,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Expensify during the second quarter worth approximately $85,000. HRT Financial LP purchased a new position in Expensify during the fourth quarter worth approximately $68,000. Prelude Capital Management LLC lifted its position in Expensify by 68.5% during the third quarter. Prelude Capital Management LLC now owns 36,400 shares of the company’s stock worth $67,000 after buying an additional 14,800 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Expensify by 126.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after buying an additional 17,634 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analyst Ratings Changes

EXFY has been the topic of several research reports. Wall Street Zen upgraded Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $2.50.

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.