Pale Fire Capital SE Buys New Shares in Expensify, Inc. $EXFY

Pale Fire Capital SE bought a new position in Expensify, Inc. (NASDAQ:EXFY) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 481,051 shares of the company’s stock, valued at approximately $418,000.

Other large investors also recently added to or reduced their stakes in the company. Abel Hall LLC purchased a new stake in Expensify during the fourth quarter valued at about $25,000. SG Americas Securities LLC purchased a new position in shares of Expensify in the fourth quarter worth about $27,000. Franklin Resources Inc. purchased a new position in shares of Expensify in the third quarter worth about $34,000. Balyasny Asset Management L.P. lifted its stake in shares of Expensify by 126.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock valued at $48,000 after acquiring an additional 17,634 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. bought a new stake in shares of Expensify in the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Expensify from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $2.50.

Expensify Stock Down 1.1%

Shares of NASDAQ EXFY opened at $1.72 on Friday. Expensify, Inc. has a 52 week low of $0.69 and a 52 week high of $2.26. The firm’s fifty day moving average is $1.48 and its 200 day moving average is $1.24. The company has a market cap of $144.96 million, a price-to-earnings ratio of -7.48 and a beta of 1.68.

Expensify (NASDAQ:EXFY) last posted 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). The firm had revenue of $33.97 million for the quarter, compared to the consensus estimate of $34.25 million. Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $1.15, for a total transaction of $34,500.00. Following the completion of the sale, the chief executive officer directly owned 1,228,480 shares in the company, valued at approximately $1,412,752. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1.01, for a total transaction of $31,035.28. Following the sale, the director owned 254,780 shares of the company’s stock, valued at approximately $257,327.80. This represents a 10.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,728 shares of company stock worth $109,235 in the last 90 days. Corporate insiders own 11.65% of the company’s stock.

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.