Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 16,630 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 16,630 shares of Expensify stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1.49, for a total value of $24,778.70. Following the sale, the chief executive officer now owns 1,873,037 shares of the company’s stock, valued at approximately $2,790,825.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, July 1st, David Michael Barrett sold 16,200 shares of Expensify stock. The shares were sold at an average price of $1.53, for a total value of $24,786.00.
• On Wednesday, June 26th, David Michael Barrett sold 16,300 shares of Expensify stock. The shares were sold at an average price of $1.51, for a total value of $24,613.00.
• On Monday, June 24th, David Michael Barrett sold 16,860 shares of Expensify stock. The shares were sold at an average price of $1.46, for a total value of $24,615.60.
• On Thursday, June 20th, David Michael Barrett sold 18,430 shares of Expensify stock. The shares were sold at an average price of $1.32, for a total value of $24,327.60.
• On Monday, June 17th, David Michael Barrett sold 11,072 shares of Expensify stock. The shares were sold at an average price of $1.34, for a total value of $14,836.48.
• On Friday, June 14th, David Michael Barrett sold 17,740 shares of Expensify stock. The shares were sold at an average price of $1.38, for a total value of $24,481.20.
• On Wednesday, June 12th, David Michael Barrett sold 16,970 shares of Expensify stock. The shares were sold at an average price of $1.45, for a total value of $24,606.50.
• On Monday, June 10th, David Michael Barrett sold 17,110 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,638.40.
• On Friday, June 7th, David Michael Barrett sold 16,780 shares of Expensify stock. The shares were sold at an average price of $1.47, for a total value of $24,666.60.
• On Wednesday, June 5th, David Michael Barrett sold 17,060 shares of Expensify stock. The shares were sold at an average price of $1.44, for a total value of $24,566.40.

Expensify Price Performance

Shares of Expensify stock opened at $1.50 on Wednesday. The business’s 50 day simple moving average is $1.58 and its two-hundred day simple moving average is $1.78. The stock has a market capitalization of $129.74 million, a P/E ratio of -3.13 and a beta of 1.47. Expensify, Inc. has a one year low of $1.24 and a one year high of $8.25.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The company had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same period last year, the firm earned ($0.07) earnings per share. Expensify’s revenue for the quarter was down 16.5% on a year-over-year basis. Sell-side analysts expect that Expensify, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently made changes to their positions in EXFY. Hsbc Holdings PLC increased its stake in shares of Expensify by 63.5% during the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after buying an additional 21,700 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Expensify during the third quarter valued at approximately $156,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Expensify by 287.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,415 shares of the company’s stock valued at $352,000 after buying an additional 80,410 shares during the period. Corton Capital Inc. purchased a new position in shares of Expensify during the third quarter valued at approximately $37,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Expensify during the third quarter valued at approximately $35,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EXFY. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 28th. Citigroup decreased their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Expensify currently has an average rating of “Hold” and a consensus target price of $4.20.

About Expensify

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.