Expensify (NASDAQ:EXFY) Major Shareholder Purchases $420,000.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin bought 500,000 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $0.84 per share, with a total value of $420,000.00. Following the acquisition, the insider owned 12,203,393 shares of the company’s stock, valued at $10,250,850.12. The trade was a 4.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Expensify Trading Up 2.6%

Shares of EXFY traded up $0.02 during trading hours on Wednesday, reaching $0.77. 1,228,277 shares of the stock traded hands, compared to its average volume of 743,140. Expensify, Inc. has a 52 week low of $0.69 and a 52 week high of $3.60. The company has a market cap of $62.00 million, a price-to-earnings ratio of -3.19 and a beta of 1.74. The stock has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $1.52.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). Expensify had a negative return on equity of 16.00% and a negative net margin of 15.05%.The firm had revenue of $35.20 million during the quarter, compared to the consensus estimate of $35.50 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millington Financial Advisors LLC bought a new position in Expensify in the 2nd quarter worth approximately $104,000. Globeflex Capital L P bought a new stake in Expensify during the 2nd quarter worth approximately $845,000. Royce & Associates LP increased its holdings in Expensify by 52.4% during the 3rd quarter. Royce & Associates LP now owns 30,109 shares of the company’s stock worth $56,000 after acquiring an additional 10,358 shares during the period. Savant Capital LLC purchased a new stake in Expensify in the 3rd quarter worth approximately $30,000. Finally, CWM LLC bought a new position in Expensify in the 3rd quarter valued at $36,000. Institutional investors own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

EXFY has been the topic of several research analyst reports. Wall Street Zen cut Expensify from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.50.

About Expensify

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.