Rhumbline Advisers Sells 45,634 Shares of Expensify, Inc. (NASDAQ:EXFY)

Rhumbline Advisers reduced its holdings in shares of Expensify, Inc. (NASDAQ:EXFY) by 66.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,799 shares of the company’s stock after selling 45,634 shares during the quarter. Rhumbline Advisers’ holdings in Expensify were worth $34,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EXFY. Vanguard Group Inc. lifted its stake in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after purchasing an additional 476,687 shares during the last quarter. Palogic Value Management L.P. grew its stake in shares of Expensify by 33.3% during the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after acquiring an additional 200,000 shares during the period. Acadian Asset Management LLC increased its holdings in Expensify by 74.4% in the 1st quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after acquiring an additional 129,689 shares during the last quarter. CastleKnight Management LP increased its holdings in Expensify by 79.5% in the 4th quarter. CastleKnight Management LP now owns 131,200 shares of the company’s stock worth $324,000 after acquiring an additional 58,100 shares during the last quarter. Finally, Aristides Capital LLC bought a new stake in Expensify in the 4th quarter valued at about $134,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Expensify Stock Down 2.6 %

Expensify stock opened at $1.91 on Wednesday. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $3.42. The company has a market capitalization of $165.20 million, a P/E ratio of -3.98 and a beta of 1.54. The stock’s 50 day moving average is $2.15 and its 200 day moving average is $1.82.

Expensify (NASDAQ:EXFY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Expensify had a negative net margin of 22.41% and a negative return on equity of 29.82%. The business had revenue of $33.29 million during the quarter, compared to the consensus estimate of $35.69 million.

Wall Street Analyst Weigh In

Separately, JMP Securities raised shares of Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 target price on the stock in a report on Friday, August 9th.

Insider Buying and Selling

In other news, major shareholder Steven J. Mclaughlin acquired 123,217 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $178,664.65. Following the transaction, the insider now directly owns 9,939,949 shares of the company’s stock, valued at $14,412,926.05. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Expensify news, COO Anuradha Muralidharan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $2.35, for a total transaction of $47,000.00. Following the sale, the chief operating officer now directly owns 40,224 shares in the company, valued at $94,526.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Steven J. Mclaughlin bought 123,217 shares of the stock in a transaction dated Monday, July 8th. The stock was purchased at an average price of $1.45 per share, with a total value of $178,664.65. Following the acquisition, the insider now directly owns 9,939,949 shares in the company, valued at approximately $14,412,926.05. The disclosure for this purchase can be found here. In the last three months, insiders have sold 1,017,234 shares of company stock valued at $2,237,050. 17.33% of the stock is owned by company insiders.

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.