Expensify (NASDAQ:EXFY) Major Shareholder Acquires $333,686.88 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin acquired 327,144 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $1.02 per share, for a total transaction of $333,686.88. Following the completion of the purchase, the insider directly owned 10,767,093 shares of the company’s stock, valued at approximately $10,982,434.86. This represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Stock Performance

EXFY traded up $0.02 during midday trading on Wednesday, reaching $0.77. 1,228,277 shares of the company were exchanged, compared to its average volume of 743,140. The company’s fifty day moving average price is $1.25 and its 200 day moving average price is $1.52. The company has a market cap of $62.00 million, a price-to-earnings ratio of -3.19 and a beta of 1.74. Expensify, Inc. has a one year low of $0.69 and a one year high of $3.60.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.13). Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%. The firm had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $35.50 million.

Institutional Trading of Expensify

Several hedge funds have recently added to or reduced their stakes in EXFY. Abel Hall LLC purchased a new position in Expensify in the fourth quarter valued at about $25,000. SG Americas Securities LLC purchased a new stake in shares of Expensify during the 4th quarter worth approximately $27,000. Savant Capital LLC purchased a new stake in shares of Expensify during the 3rd quarter worth approximately $30,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Expensify in the 2nd quarter worth approximately $32,000. Finally, ProShare Advisors LLC purchased a new position in Expensify in the second quarter valued at approximately $32,000. Institutional investors own 68.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EXFY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. Wall Street Zen lowered Expensify from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One 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, Expensify currently 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.