Hillsdale Investment Management Inc. purchased a new position in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,397 shares of the company's stock, valued at approximately $293,000. Hillsdale Investment Management Inc. owned 0.11% of Expensify at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of EXFY. Exchange Traded Concepts LLC acquired a new stake in shares of Expensify during the 4th quarter worth about $691,000. Walleye Capital LLC lifted its position in shares of Expensify by 42.1% during the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company's stock worth $1,183,000 after buying an additional 178,911 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Expensify by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 514,948 shares of the company's stock valued at $1,010,000 after buying an additional 52,385 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Expensify by 814.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock worth $2,024,000 after acquiring an additional 537,993 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Expensify in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 68.42% of the company's stock.
Expensify Trading Down 6.0 %
Shares of EXFY traded down $0.20 during mid-day trading on Friday, hitting $3.11. 390,418 shares of the company's stock were exchanged, compared to its average volume of 664,137. The firm has a market capitalization of $247.27 million, a P/E ratio of -17.28 and a beta of 1.83. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.13. The business's 50 day moving average is $3.51 and its two-hundred day moving average is $3.00.
Expensify declared that its board has authorized a share buyback program on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 20.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on EXFY shares. Lake Street Capital raised their price objective on Expensify from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Citigroup boosted their price objective on Expensify from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Monday, December 16th.
View Our Latest Stock Analysis on EXFY
Insiders Place Their Bets
In related news, CEO David Michael Barrett sold 45,643 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the completion of the sale, the chief executive officer now owns 2,026,590 shares in the company, valued at $7,457,851.20. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 260,133 shares of company stock valued at $889,951. 17.33% of the stock is owned by company insiders.
Expensify Company Profile
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Free Report)
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.
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