Expensify, Inc. (NASDAQ:EXFY) CEO Sells $91,832.16 in Stock

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) CEO David Michael Barrett sold 27,331 shares of Expensify stock in a transaction on Monday, March 17th. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16. Following the sale, the chief executive officer now directly owns 1,889,948 shares of the company's stock, valued at $6,350,225.28. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The stock was sold at an average price of $3.27, for a total value of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total value of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The stock was sold at an average price of $3.68, for a total value of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total transaction of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The stock was sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Price Performance

Expensify stock traded down $0.05 during trading hours on Friday, reaching $3.25. The stock had a trading volume of 367,402 shares, compared to its average volume of 666,246. The company has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $2.97. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13. The stock has a market cap of $258.40 million, a PE ratio of -18.05 and a beta of 1.83.

Remove Ads

Expensify announced that its board has initiated a stock buyback program on Thursday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 20.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Institutional Trading of Expensify

Several large investors have recently modified their holdings of EXFY. Jefferies Financial Group Inc. raised its position in Expensify by 33.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 59,722 shares of the company's stock valued at $200,000 after purchasing an additional 14,922 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $40,000. Two Sigma Advisers LP raised its holdings in shares of Expensify by 25.9% during the fourth quarter. Two Sigma Advisers LP now owns 606,800 shares of the company's stock valued at $2,033,000 after acquiring an additional 124,800 shares in the last quarter. Two Sigma Investments LP lifted its stake in Expensify by 4.8% in the fourth quarter. Two Sigma Investments LP now owns 779,341 shares of the company's stock worth $2,611,000 after acquiring an additional 36,049 shares during the period. Finally, State of Wyoming boosted its holdings in Expensify by 13.3% in the fourth quarter. State of Wyoming now owns 52,364 shares of the company's stock valued at $175,000 after acquiring an additional 6,138 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

Expensify Company 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.