Charles Schwab Investment Management Inc. Raises Stake in Expensify, Inc. (NASDAQ:EXFY)

Charles Schwab Investment Management Inc. raised its holdings in shares of Expensify, Inc. (NASDAQ:EXFY) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,976 shares of the company’s stock after buying an additional 8,911 shares during the period. Charles Schwab Investment Management Inc. owned about 0.41% of Expensify worth $1,062,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in Expensify by 76.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock worth $130,000 after purchasing an additional 28,731 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of Expensify by 100.6% during 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. Walleye Capital LLC lifted its position in Expensify by 42.1% during the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after acquiring an additional 178,911 shares in the last quarter. RBF Capital LLC boosted its holdings in Expensify by 10.9% in the 3rd quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock worth $946,000 after acquiring an additional 47,389 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Expensify by 29.6% in the 3rd quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after acquiring an additional 15,730 shares during the period. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Expensify Stock Down 6.0 %

EXFY stock opened at $3.11 on Monday. The stock’s 50 day moving average is $3.51 and its two-hundred day moving average is $3.01. Expensify, Inc. has a 52-week low of $1.24 and a 52-week high of $4.13. The company has a market capitalization of $247.27 million, a PE ratio of -17.28 and a beta of 1.83.

Expensify announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 20.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 32,473 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $3.41, for a total value of $110,732.93. Following the sale, the chief executive officer now owns 2,147,203 shares in the company, valued at approximately $7,321,962.23. This represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 260,133 shares of company stock valued at $889,951. 17.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EXFY. Lake Street Capital boosted 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. Citigroup lifted their price target on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

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.