Expensify (NASDAQ:EXFY) Downgraded by JMP Securities to Market Perform

JMP Securities cut shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat reports.

Expensify Stock Down 3.8 %

NASDAQ:EXFY opened at $3.27 on Monday. The stock has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $1.95. The firm has a market capitalization of $252.31 million, a price-to-earnings ratio of -18.17 and a beta of 1.51. Expensify has a 1-year low of $1.24 and a 1-year high of $3.47.

Insider Buying and Selling at Expensify

In other Expensify news, CFO Ryan Schaffer sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $2.27, for a total transaction of $28,375.00. Following the transaction, the chief financial officer now directly owns 152,531 shares in the company, valued at $346,245.37. This trade represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Michael Barrett sold 15,454 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $2.91, for a total value of $44,971.14. Following the sale, the chief executive officer now owns 2,378,319 shares of the company’s stock, valued at approximately $6,920,908.29. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 831,545 shares of company stock valued at $1,996,856 in the last 90 days. 17.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Expensify

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Expensify during the 2nd quarter worth $53,000. Quadrature Capital Ltd bought a new position in Expensify in the 1st quarter worth approximately $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Expensify during the second quarter worth approximately $86,000. Dynamic Technology Lab Private Ltd boosted its position in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after acquiring an additional 22,504 shares during the period. Finally, Wealthspire Advisors LLC grew its stake in shares of Expensify by 40.7% in the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after acquiring an additional 19,157 shares during the last quarter. Institutional investors own 68.42% of the company’s stock.

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.