Expensify, Inc. (NASDAQ:EXFY) Short Interest Up 36.1% in March

Expensify, Inc. (NASDAQ:EXFY) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 3,543,978 shares, a growth of 36.1% from the February 26th total of 2,604,818 shares. Based on an average trading volume of 1,186,696 shares, the days-to-cover ratio is presently 3.0 days. Approximately 5.3% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Expensify from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Expensify in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.50.

Insider Activity at Expensify

In other news, major shareholder Steven J. Mclaughlin purchased 500,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average cost of $0.84 per share, with a total value of $420,000.00. Following the completion of the purchase, the insider directly owned 12,203,393 shares of the company’s stock, valued at approximately $10,250,850.12. The trade was a 4.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David Michael Barrett sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.45, for a total value of $43,500.00. Following the sale, the chief executive officer owned 1,318,480 shares of the company’s stock, valued at $1,911,796. The trade was a 2.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 2,263,444 shares of company stock worth $2,132,976 and sold 94,004 shares worth $140,056. Company insiders own 12.27% of the company’s stock.

Hedge Funds Weigh In On Expensify

A number of institutional investors have recently bought and sold shares of the company. Abel Hall LLC acquired a new position in Expensify in the 4th quarter valued at about $25,000. SG Americas Securities LLC acquired a new stake in shares of Expensify during the 4th quarter worth approximately $27,000. Savant Capital LLC purchased a new stake in shares of Expensify during the 3rd quarter valued at approximately $30,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Expensify during the 2nd quarter valued at approximately $32,000. Finally, Franklin Resources Inc. acquired a new position in Expensify in the third quarter valued at approximately $34,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Expensify Trading Down 4.1%

NASDAQ EXFY traded down $0.03 on Friday, reaching $0.81. 909,349 shares of the company were exchanged, compared to its average volume of 1,310,130. The business’s fifty day moving average price is $1.15 and its 200 day moving average price is $1.46. The stock has a market capitalization of $65.59 million, a P/E ratio of -3.38 and a beta of 1.74. Expensify has a fifty-two week low of $0.69 and a fifty-two week high of $3.33.

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

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.