Quantbot Technologies LP Makes New $68,000 Investment in Expensify, Inc. (NASDAQ:EXFY)

Quantbot Technologies LP acquired a new stake in Expensify, Inc. (NASDAQ:EXFY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,300 shares of the company’s stock, valued at approximately $68,000.

A number of other hedge funds have also recently made changes to their positions in EXFY. Connor Clark & Lunn Investment Management Ltd. lifted its position in Expensify by 814.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company’s stock valued at $2,024,000 after acquiring an additional 537,993 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Expensify by 42.1% in the third quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after purchasing an additional 178,911 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Expensify by 11.3% in the third quarter. Geode Capital Management LLC now owns 514,948 shares of the company’s stock valued at $1,010,000 after purchasing an additional 52,385 shares in the last quarter. RBF Capital LLC lifted its holdings in shares of Expensify by 10.9% in the third quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock valued at $946,000 after purchasing an additional 47,389 shares in the last quarter. Finally, Ceera Investments LLC boosted its position in shares of Expensify by 1.0% during the fourth quarter. Ceera Investments LLC now owns 439,330 shares of the company’s stock valued at $1,472,000 after buying an additional 4,330 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Expensify

In other Expensify news, CEO David Michael Barrett sold 32,473 shares of the business’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 transaction, the chief executive officer now directly owns 2,147,203 shares in the company, valued at $7,321,962.23. The trade was a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the transaction, the director now directly owns 232,428 shares of the company’s stock, valued at $732,148.20. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,133 shares of company stock worth $918,301 in the last quarter. 17.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

EXFY has been the subject of a number of analyst reports. Citigroup increased their price target on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Lake Street Capital increased their target price on shares of Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th.

Expensify Trading Down 3.0 %

Shares of EXFY opened at $2.95 on Wednesday. The stock has a 50 day moving average of $3.49 and a 200 day moving average of $3.01. The company has a market capitalization of $234.55 million, a price-to-earnings ratio of -16.39 and a beta of 1.83. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.13.

Expensify declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 20.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.