Expensify, Inc. $EXFY Shares Sold by Pale Fire Capital SE

Pale Fire Capital SE lowered its position in shares of Expensify, Inc. (NASDAQ:EXFY) by 72.1% in the second quarter, Holdings Channel reports. The firm owned 134,409 shares of the company’s stock after selling 346,642 shares during the period. Pale Fire Capital SE’s holdings in Expensify were worth $241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXFY. Bank of New York Mellon Corp acquired a new stake in shares of Expensify in the second quarter worth $198,000. Renaissance Technologies LLC increased its holdings in Expensify by 6.7% in the 1st quarter. Renaissance Technologies LLC now owns 725,000 shares of the company’s stock valued at $631,000 after purchasing an additional 45,400 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Expensify by 32.0% in the 4th quarter. Hsbc Holdings PLC now owns 84,329 shares of the company’s stock valued at $127,000 after purchasing an additional 20,465 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Expensify in the fourth quarter valued at about $240,000. Finally, XTX Topco Ltd raised its position in Expensify by 5.6% in the fourth quarter. XTX Topco Ltd now owns 191,397 shares of the company’s stock valued at $289,000 after purchasing an additional 10,150 shares during the period. 68.42% of the stock is owned by institutional investors and hedge funds.

Expensify Stock Performance

NASDAQ:EXFY opened at $2.46 on Thursday. The company has a market capitalization of $194.19 million, a price-to-earnings ratio of -14.47 and a beta of 1.72. Expensify, Inc. has a one year low of $0.69 and a one year high of $2.81. The stock has a 50-day simple moving average of $2.05 and a 200 day simple moving average of $1.40.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06). Expensify had a negative net margin of 11.31% and a negative return on equity of 11.54%. The firm had revenue of $33.87 million for the quarter, compared to analyst estimates of $33.70 million.

Analysts Set New Price Targets

EXFY has been the subject of several analyst reports. Citigroup raised Expensify from a “market outperform” rating to an “outperform” rating in a research report on Friday, August 7th. Wall Street Zen raised Expensify from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Citizens Jmp raised shares of Expensify from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Expensify currently has a consensus rating of “Hold” and an average target price of $3.00.

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.