Insider Selling: Expensify (NASDAQ:EXFY) CEO Sells $21,983.76 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 14,463 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $1.52, for a total transaction of $21,983.76. Following the completion of the sale, the chief executive officer directly owned 212,567 shares of the company’s stock, valued at $323,101.84. The trade was a 6.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

David Michael Barrett also recently made the following trade(s):

• On Friday, January 2nd, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.50, for a total transaction of $45,000.00.
• On Wednesday, December 17th, David Michael Barrett sold 2,544 shares of Expensify stock. The stock was sold at an average price of $1.55, for a total transaction of $3,943.20.
• On Monday, December 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.52, for a total transaction of $45,600.00.
• On Monday, November 3rd, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.60, for a total transaction of $48,000.00.

Expensify Trading Up 3.5%

Shares of Expensify stock opened at $1.47 on Thursday. The stock’s fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.82. The company has a market capitalization of $118.83 million, a PE ratio of -8.65 and a beta of 1.69. Expensify, Inc. has a 12 month low of $1.33 and a 12 month high of $4.00.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.08). Expensify had a negative return on equity of 11.75% and a negative net margin of 10.83%.The business had revenue of $35.07 million during the quarter, compared to the consensus estimate of $35.65 million.

Wall Street Analyst Weigh In

Several analysts have issued reports on EXFY shares. Wall Street Zen downgraded Expensify from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Expensify in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXFY. Royce & Associates LP lifted its stake in Expensify by 52.4% in the third quarter. Royce & Associates LP now owns 30,109 shares of the company’s stock valued at $56,000 after acquiring an additional 10,358 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Expensify in the 2nd quarter valued at about $30,000. ProShare Advisors LLC bought a new position in Expensify during the second quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey bought a new position in Expensify during the second quarter worth about $32,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Expensify by 28.5% during the second quarter. Dynamic Technology Lab Private Ltd now owns 60,304 shares of the company’s stock worth $156,000 after buying an additional 13,388 shares during the last quarter. 68.42% of the stock is owned by institutional investors and hedge funds.

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.