Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Steven J. Mclaughlin Purchases 24,529 Shares

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 24,529 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $1.45 per share, for a total transaction of $35,567.05. Following the purchase, the insider now owns 9,816,732 shares in the company, valued at approximately $14,234,261.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Expensify Stock Performance

EXFY stock opened at $1.50 on Wednesday. The firm has a fifty day moving average price of $1.58 and a 200 day moving average price of $1.78. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The firm has a market cap of $129.74 million, a PE ratio of -3.13 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SVB Wealth LLC boosted its stake in Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock worth $8,297,000 after buying an additional 1,309,037 shares during the period. Walleye Capital LLC boosted its stake in Expensify by 396.1% during the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after buying an additional 570,495 shares during the period. Vanguard Group Inc. boosted its stake in Expensify by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after buying an additional 476,687 shares during the period. Palogic Value Management L.P. boosted its stake in Expensify by 33.3% during the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after buying an additional 200,000 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Expensify by 57,044.0% during the fourth quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock worth $398,000 after buying an additional 160,864 shares during the period. 68.42% of the stock is owned by hedge funds and other 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.