Expensify (NASDAQ:EXFY) CEO David Michael Barrett Sells 30,000 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $1.08, for a total value of $32,400.00. Following the transaction, the chief executive officer directly owned 1,258,480 shares in the company, valued at $1,359,158.40. This represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Expensify Price Performance

Shares of NASDAQ EXFY opened at $0.97 on Tuesday. Expensify, Inc. has a one year low of $0.69 and a one year high of $2.64. The business’s fifty day moving average price is $0.90 and its 200-day moving average price is $1.27. The stock has a market capitalization of $86.34 million, a PE ratio of -4.23 and a beta of 1.75.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%. The firm had revenue of $33.97 million for the quarter, compared to analysts’ expectations of $34.25 million.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EXFY. Wall Street Zen raised Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.50.

Institutional Trading of Expensify

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in Expensify by 103.2% during the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock valued at $4,276,000 after acquiring an additional 714,244 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Expensify during the first quarter valued at approximately $142,000. Geode Capital Management LLC grew its stake in Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after acquiring an additional 759,982 shares in the last quarter. American Century Companies Inc. grew its stake in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company’s stock valued at $315,000 after acquiring an additional 21,912 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Expensify during the second quarter valued at approximately $157,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.