Connor Clark & Lunn Investment Management Ltd. Acquires 537,993 Shares of Expensify, Inc. (NASDAQ:EXFY)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 814.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 604,088 shares of the company's stock after acquiring an additional 537,993 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.78% of Expensify worth $2,024,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ceera Investments LLC boosted its position in Expensify by 1.0% during the 4th quarter. Ceera Investments LLC now owns 439,330 shares of the company's stock valued at $1,472,000 after acquiring an additional 4,330 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Expensify by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,976 shares of the company's stock valued at $1,062,000 after purchasing an additional 8,911 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new position in shares of Expensify during the fourth quarter valued at approximately $46,000. Finally, XTX Topco Ltd lifted its holdings in shares of Expensify by 29.6% during the third quarter. XTX Topco Ltd now owns 68,789 shares of the company's stock valued at $135,000 after purchasing an additional 15,730 shares during the last quarter. 68.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Expensify

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $3.50, for a total transaction of $105,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,203,787 shares in the company, valued at approximately $7,713,254.50. The trade was a 1.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 257,233 shares of company stock worth $880,671. Insiders own 17.33% of the company's stock.

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Expensify Stock Down 1.5 %

EXFY traded down $0.05 during mid-day trading on Friday, reaching $3.25. 367,402 shares of the company traded hands, compared to its average volume of 665,055. The stock has a market capitalization of $258.40 million, a P/E ratio of -18.05 and a beta of 1.83. The company's fifty day moving average price is $3.51 and its 200-day moving average price is $2.96. Expensify, Inc. has a 52-week low of $1.24 and a 52-week high of $4.13.

Expensify announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EXFY. Lake Street Capital lifted their target price on shares of Expensify from $3.00 to $5.00 and gave the company a "buy" rating in a report on Friday, February 28th. Citigroup lifted their target price on shares of Expensify from $4.00 to $5.00 and gave the company a "buy" rating in a report on Monday, December 16th. Finally, JMP Securities lowered shares of Expensify from an "outperform" rating to a "market perform" rating in a report on Monday, November 25th.

Expensify Profile

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.