Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Purchases 17,511 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 17,511 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $1.59 per share, for a total transaction of $27,842.49. Following the transaction, the insider now owns 9,015,636 shares of the company’s stock, valued at $14,334,861.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Expensify Stock Performance

Shares of EXFY stock opened at $1.62 on Thursday. Expensify, Inc. has a 52-week low of $1.40 and a 52-week high of $8.25. The company has a market capitalization of $114.34 million, a PE ratio of -3.18 and a beta of 1.49. The business’s fifty day moving average is $1.80 and its 200 day moving average is $2.08.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The firm had revenue of $35.20 million during the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The firm’s revenue was down 19.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts forecast that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EXFY shares. Piper Sandler lowered their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Citigroup lowered their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.93.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in Expensify by 63.5% in the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after acquiring an additional 21,700 shares during the last quarter. Barclays PLC increased its stake in Expensify by 433.4% in the third quarter. Barclays PLC now owns 105,759 shares of the company’s stock valued at $344,000 after acquiring an additional 85,931 shares during the last quarter. Walleye Capital LLC increased its stake in Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Aigen Investment Management LP bought a new position in Expensify in the third quarter valued at $134,000. Finally, Quadrature Capital Ltd bought a new position in Expensify in the third quarter valued at $35,000. Institutional investors own 68.42% of the company’s stock.

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.