Citigroup Issues Positive Forecast for Expensify (NASDAQ:EXFY) Stock Price

Expensify (NASDAQ:EXFY) had its target price lifted by Citigroup from $4.00 to $5.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, JMP Securities lowered Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th.

Expensify Price Performance

Shares of EXFY stock opened at $3.80 on Monday. The firm’s 50-day moving average is $2.61 and its two-hundred day moving average is $2.16. Expensify has a 12 month low of $1.24 and a 12 month high of $4.13. The company has a market capitalization of $293.19 million, a PE ratio of -21.11 and a beta of 1.90.

Insider Buying and Selling

In other news, CEO David Michael Barrett sold 58,226 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $2.76, for a total transaction of $160,703.76. Following the sale, the chief executive officer now owns 2,508,867 shares of the company’s stock, valued at approximately $6,924,472.92. This represents a 2.27 % 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. Also, COO Anuradha Muralidharan sold 29,410 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $3.40, for a total transaction of $99,994.00. Following the completion of the transaction, the chief operating officer now directly owns 3,941 shares of the company’s stock, valued at approximately $13,399.40. The trade was a 88.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,423 shares of company stock valued at $475,488. Company insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Expensify by 11.3% during the third quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock worth $1,010,000 after acquiring an additional 52,385 shares during the period. XTX Topco Ltd grew its stake in Expensify by 29.6% during the 3rd quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after purchasing an additional 15,730 shares in the last quarter. RBF Capital LLC increased its holdings in Expensify by 10.9% during the 3rd quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock worth $946,000 after purchasing an additional 47,389 shares during the period. Walleye Capital LLC raised its position in Expensify by 42.1% in the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock valued at $1,183,000 after purchasing an additional 178,911 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Expensify by 100.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after buying an additional 22,504 shares during the period. 68.42% of the stock is currently owned by institutional investors and hedge funds.

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.