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

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $0.85, for a total value of $25,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,198,480 shares in the company, valued at $1,018,708. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, March 24th, David Michael Barrett sold 10,114 shares of Expensify stock. The shares were sold at an average price of $0.84, for a total value of $8,495.76.
• On Tuesday, March 17th, David Michael Barrett sold 2,692 shares of Expensify stock. The shares were sold at an average price of $0.76, for a total value of $2,045.92.
• On Monday, June 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.15, for a total value of $34,500.00.
• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $1.08, for a total value of $32,400.00.

Expensify Price Performance

NASDAQ:EXFY opened at $1.26 on Friday. The firm has a market capitalization of $106.19 million, a PE ratio of -5.48 and a beta of 1.79. The business’s fifty day moving average price is $1.04 and its 200 day moving average price is $1.21. Expensify, Inc. has a 12 month low of $0.69 and a 12 month high of $2.64.

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

More Expensify News

Here are the key news stories impacting Expensify this week:

• Positive Sentiment: Expensify finalized its modified Dutch auction tender offer, accepting 6,053,023 shares at $1.20 each and reducing Class A shares outstanding by roughly 6.8%, a move that may help earnings and cash flow metrics on a per-share basis. Expensify, Inc. Announces Final Results of Tender Offer
• Positive Sentiment: Earlier preliminary tender offer results pointed to a similar outcome, reinforcing expectations for meaningful share count reduction and likely contributing to buying interest in EXFY. Expensify, Inc. Announces Preliminary Results of Tender Offer
• Neutral Sentiment: Multiple insider sales by the CEO, CFO, and directors were disclosed, but most were small, routine transactions tied to tax withholding or pre-arranged trading plans, making them less likely to be the main driver of the stock move today.

Hedge Funds Weigh In On Expensify

Several hedge funds have recently made changes to their positions in EXFY. Abel Hall LLC purchased a new position in shares of Expensify during the fourth quarter worth about $25,000. SG Americas Securities LLC purchased a new position in shares of Expensify during the fourth quarter worth about $27,000. Savant Capital LLC purchased a new position in shares of Expensify during the third quarter worth about $30,000. Franklin Resources Inc. purchased a new position in shares of Expensify during the third quarter worth about $34,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Expensify by 126.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after buying an additional 17,634 shares during the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.