Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells 9,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) Director Daniel Vidal sold 9,000 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $3.15, for a total value of $28,350.00. Following the completion of the sale, the director now directly owns 232,428 shares in the company, valued at $732,148.20. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Expensify Price Performance

Shares of EXFY traded down $0.22 during trading hours on Friday, reaching $2.53. 545,645 shares of the company's stock traded hands, compared to its average volume of 658,394. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The business's fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $3.01. The firm has a market capitalization of $201.15 million, a price-to-earnings ratio of -14.05 and a beta of 1.83.

Expensify declared that its board has approved a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes 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 management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EXFY. Lake Street Capital increased their price objective on shares of Expensify from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Citigroup lifted their price target on Expensify from $4.00 to $5.00 and gave the company a "buy" rating in a report on Monday, December 16th.

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Institutional Trading of Expensify

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new position in shares of Expensify during the fourth quarter valued at approximately $3,085,000. Marshall Wace LLP increased its position in shares of Expensify by 72.0% during the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company's stock valued at $4,824,000 after purchasing an additional 602,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Expensify by 814.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock worth $2,024,000 after buying an additional 537,993 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of Expensify by 2,760.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 289,717 shares of the company's stock valued at $971,000 after buying an additional 279,588 shares during the period. Finally, 683 Capital Management LLC bought a new position in Expensify during the fourth quarter valued at about $740,000. 68.42% of the stock is currently 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.