Insider Buying: Expensify (NASDAQ:EXFY) Major Shareholder Acquires $433,115.45 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin bought 455,911 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $0.95 per share, with a total value of $433,115.45. Following the completion of the acquisition, the insider directly owned 11,703,393 shares in the company, valued at $11,118,223.35. This trade represents a 4.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Price Performance

NASDAQ EXFY opened at $0.83 on Friday. The company has a market cap of $67.52 million, a P/E ratio of -3.48 and a beta of 1.74. The stock has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.50. Expensify, Inc. has a 1-year low of $0.69 and a 1-year high of $3.60.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $35.20 million for the quarter, compared to analyst estimates of $35.50 million.

Institutional Investors Weigh In On Expensify

Several hedge funds and other institutional investors have recently made changes to their positions in EXFY. Abel Hall LLC purchased a new stake in Expensify during the fourth quarter worth approximately $25,000. SG Americas Securities LLC purchased a new position in Expensify in the fourth quarter valued at approximately $27,000. Savant Capital LLC acquired a new stake in Expensify during the third quarter worth approximately $30,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Expensify during the second quarter worth approximately $32,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Expensify during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Expensify from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.50.

Expensify Company Profile

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.