JPMorgan Chase & Co. Acquires 40,141 Shares of Expensify, Inc. (NASDAQ:EXFY)

JPMorgan Chase & Co. lifted its holdings in Expensify, Inc. (NASDAQ:EXFY) by 33.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,002 shares of the company’s stock after purchasing an additional 40,141 shares during the period. JPMorgan Chase & Co. owned 0.21% of Expensify worth $314,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in shares of Expensify in the second quarter worth about $53,000. Dynamic Technology Lab Private Ltd raised 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 acquiring an additional 22,504 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Expensify in the 2nd quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Expensify by 76.9% during the third 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. Finally, XTX Topco Ltd grew its holdings in Expensify by 29.6% during the third quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock valued at $135,000 after purchasing an additional 15,730 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors.

Insider Activity at Expensify

In related news, CEO David Michael Barrett sold 16,715 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $3.27, for a total value of $54,658.05. Following the completion of the transaction, the chief executive officer now directly owns 2,072,233 shares of the company’s stock, valued at $6,776,201.91. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Anuradha Muralidharan sold 12,320 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $3.85, for a total transaction of $47,432.00. Following the completion of the sale, the chief operating officer now directly owns 4,614 shares in the company, valued at $17,763.90. This trade represents a 72.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,679 shares of company stock worth $1,079,883. Company insiders own 17.33% of the company’s stock.

Expensify Trading Up 3.1 %

EXFY opened at $3.65 on Friday. The business has a 50 day moving average of $3.49 and a 200-day moving average of $2.59. The stock has a market capitalization of $281.63 million, a price-to-earnings ratio of -20.28 and a beta of 1.85. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter. The company had revenue of $35.41 million for the quarter. Expensify had a negative net margin of 11.81% and a negative return on equity of 14.72%. During the same period in the prior year, the firm posted ($0.21) EPS. Equities analysts predict that Expensify, Inc. will post -0.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXFY. Citigroup boosted their price objective 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. JMP Securities lowered shares of Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th.

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.