Renaissance Technologies LLC Lowers Holdings in Expensify, Inc. (NASDAQ:EXFY)

Renaissance Technologies LLC lowered its position in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 27.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 965,200 shares of the company's stock after selling 363,041 shares during the period. Renaissance Technologies LLC owned 1.25% of Expensify worth $3,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Expensify in the 4th quarter worth approximately $39,000. R Squared Ltd purchased a new position in Expensify in the fourth quarter worth about $46,000. Quantbot Technologies LP bought a new position in shares of Expensify in the fourth quarter worth approximately $68,000. ExodusPoint Capital Management LP purchased a new stake in shares of Expensify during the fourth quarter valued at approximately $91,000. Finally, Bailard Inc. purchased a new stake in Expensify during the 4th quarter valued at $146,000. Hedge funds and other institutional investors own 68.42% of the company's stock.

Analysts Set New Price Targets

Separately, Lake Street Capital lifted their target price on shares of Expensify from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, February 28th.

Insider Transactions at Expensify

In related news, CEO David Michael Barrett sold 31,781 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $3.43, for a total value of $109,008.83. Following the sale, the chief executive officer now directly owns 1,947,372 shares of the company's stock, valued at $6,679,485.96. This represents a 1.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction that occurred 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 owns 232,428 shares in the company, valued at approximately $732,148.20. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 280,921 shares of company stock valued at $886,854 in the last ninety days. Corporate insiders own 17.33% of the company's stock.

Expensify Price Performance

Shares of EXFY stock traded up $0.09 during trading hours on Friday, hitting $2.98. The stock had a trading volume of 450,685 shares, compared to its average volume of 646,957. The stock has a market capitalization of $236.93 million, a price-to-earnings ratio of -16.55 and a beta of 1.87. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The stock's 50-day moving average price is $3.13 and its two-hundred day moving average price is $3.10.

Expensify declared that its board has approved a share buyback program on Thursday, February 27th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 20.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.