Expensify, Inc. (NASDAQ:EXFY) CEO Sells $258,667.96 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 66,667 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $3.88, for a total value of $258,667.96. Following the completion of the transaction, the chief executive officer now owns 2,733,348 shares in the company, valued at $10,605,390.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, September 8th, David Michael Barrett sold 263,333 shares of Expensify stock. The stock was sold at an average price of $3.96, for a total value of $1,042,798.68.
• On Wednesday, August 9th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $4.26, for a total value of $127,800.00.
• On Wednesday, July 12th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $7.52, for a total value of $225,600.00.
• On Wednesday, June 14th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $6.99, for a total value of $209,700.00.

Expensify Price Performance

Shares of Expensify stock opened at $3.81 on Friday. The stock’s 50-day simple moving average is $5.71 and its 200-day simple moving average is $6.89. Expensify, Inc. has a 52 week low of $3.78 and a 52 week high of $17.27. The company has a market capitalization of $260.68 million, a price-to-earnings ratio of -10.89 and a beta of 1.43. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.43.

Expensify (NASDAQ:EXFY) last issued its earnings results on Tuesday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.20). Expensify had a negative return on equity of 29.21% and a negative net margin of 17.51%. The firm had revenue of $38.88 million during the quarter, compared to the consensus estimate of $41.49 million. During the same period last year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, analysts expect that Expensify, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Expensify

Large investors have recently made changes to their positions in the company. Cornerstone Investment Partners LLC bought a new stake in shares of Expensify in the first quarter worth about $159,000. Royce & Associates LP bought a new stake in Expensify during the first quarter worth approximately $771,000. Azora Capital LP bought a new stake in Expensify during the first quarter worth approximately $158,000. SVB Wealth LLC bought a new stake in Expensify during the fourth quarter worth approximately $29,671,000. Finally, HRT Financial LP bought a new stake in Expensify during the fourth quarter worth approximately $366,000. 56.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EXFY shares. Lake Street Capital lowered their target price on Expensify from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Piper Sandler lowered their target price on Expensify from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Loop Capital downgraded Expensify from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $6.00 in a research report on Wednesday, August 9th. Morgan Stanley upgraded Expensify from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $9.00 to $5.00 in a research report on Monday, June 12th. Finally, Citigroup lowered their price objective on Expensify from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.64.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.