Expensify (NASDAQ:EXFY) Rating Lowered to Market Perform at JMP Securities

JMP Securities lowered shares of Expensify (NASDAQ:EXFY - Free Report) from an outperform rating to a market perform rating in a research note released on Monday morning, Marketbeat reports.

Expensify Trading Down 6.2 %

Shares of EXFY traded down $0.21 during trading hours on Monday, reaching $3.19. The stock had a trading volume of 841,682 shares, compared to its average volume of 730,353. Expensify has a 12 month low of $1.24 and a 12 month high of $3.47. The company has a market capitalization of $246.14 million, a price-to-earnings ratio of -18.89 and a beta of 1.51. The firm has a 50-day simple moving average of $2.14 and a 200 day simple moving average of $1.95.

Insider Buying and Selling

In related news, CFO Ryan Schaffer sold 12,500 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $2.27, for a total transaction of $28,375.00. Following the sale, the chief financial officer now directly owns 152,531 shares in the company, valued at approximately $346,245.37. The trade was a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Michael Barrett sold 15,454 shares of Expensify stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $2.91, for a total value of $44,971.14. Following the transaction, the chief executive officer now directly owns 2,378,319 shares of the company's stock, valued at $6,920,908.29. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 831,545 shares of company stock worth $1,996,856. 17.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of Expensify during the first quarter worth about $65,000. Marshall Wace LLP bought a new stake in Expensify during the second quarter worth about $53,000. Dynamic Technology Lab Private Ltd increased its position in shares of Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company's stock valued at $88,000 after purchasing an additional 22,504 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Expensify in the 2nd quarter worth approximately $86,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company's stock worth $130,000 after buying an additional 28,731 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.