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

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $0.85, for a total value of $25,500.00. Following the completion of the transaction, the chief executive officer owned 1,198,480 shares of the company’s stock, valued at approximately $1,018,708. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Tuesday, March 24th, David Michael Barrett sold 10,114 shares of Expensify stock. The stock was sold at an average price of $0.84, for a total value of $8,495.76.
• On Tuesday, March 17th, David Michael Barrett sold 2,692 shares of Expensify stock. The stock was sold at an average price of $0.76, for a total value of $2,045.92.
• On Monday, June 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.15, for a total value of $34,500.00.
• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.08, for a total value of $32,400.00.

Expensify Trading Up 2.4%

EXFY traded up $0.03 during trading on Thursday, reaching $1.28. The stock had a trading volume of 935,203 shares, compared to its average volume of 768,017. The stock’s 50 day moving average is $1.02 and its two-hundred day moving average is $1.21. The company has a market capitalization of $107.88 million, a price-to-earnings ratio of -5.57 and a beta of 1.79. Expensify, Inc. has a one year low of $0.69 and a one year high of $2.64.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Expensify had a negative return on equity of 15.26% and a negative net margin of 14.68%.The firm had revenue of $33.97 million during the quarter, compared to the consensus estimate of $34.25 million.

Expensify News Roundup

Here are the key news stories impacting Expensify this week:

• Positive Sentiment: Expensify announced preliminary results of its tender offer, expecting to buy back about 6.14 million shares at $1.20 each, reducing Class A shares outstanding by roughly 6.9%. Expensify, Inc. Announces Preliminary Results of Tender Offer
• Neutral Sentiment: Several directors and executives disclosed stock sales, but the company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which is generally considered routine rather than a direct negative signal.
• Negative Sentiment: CEO David Michael Barrett, CFO Ryan Schaffer, and directors Jason Fahr Mills, Daniel Vidal, and Divo Carlos Eduardo Alvarez each reported share sales across March 17, March 24, and March 30 filings, which can create some overhang because insider selling is often viewed cautiously by investors.

Institutional Investors Weigh In On Expensify

A number of institutional investors have recently modified their holdings of EXFY. Millennium Management LLC boosted its position in shares of Expensify by 103.2% during the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock valued at $4,276,000 after buying an additional 714,244 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Expensify during the first quarter valued at $142,000. Geode Capital Management LLC boosted its position in shares of Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after buying an additional 759,982 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock valued at $315,000 after buying an additional 21,912 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Expensify during the second quarter valued at $157,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXFY. Wall Street Zen raised Expensify from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Expensify in a research note on Friday, May 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus 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.