Expensify, Inc. (NASDAQ:EXFY) Director Timothy L. Christen Acquires 47,050 Shares

Expensify, Inc. (NASDAQ:EXFY) Director Timothy L. Christen acquired 47,050 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average cost of $2.13 per share, for a total transaction of $100,216.50. Following the acquisition, the director now directly owns 91,834 shares of the company’s stock, valued at $195,606.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Expensify Stock Down 4.1 %

Shares of EXFY opened at $2.09 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 2.44. Expensify, Inc. has a 1-year low of $1.52 and a 1-year high of $11.65. The firm has a 50 day simple moving average of $2.97 and a 200-day simple moving average of $5.29.

Expensify (NASDAQ:EXFY) last announced its earnings results on Tuesday, November 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.23). Expensify had a negative net margin of 23.69% and a negative return on equity of 38.14%. The company had revenue of $36.50 million for the quarter, compared to analyst estimates of $39.16 million. During the same quarter last year, the company posted ($0.10) EPS. Expensify’s quarterly revenue was down 14.1% compared to the same quarter last year. Analysts anticipate that Expensify, Inc. will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EXFY shares. Loop Capital lowered shares of Expensify from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $6.00 in a research report on Wednesday, August 9th. Citigroup decreased their price objective on shares of Expensify from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Morgan Stanley lowered their target price on shares of Expensify from $5.00 to $2.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 8th. JPMorgan Chase & Co. initiated coverage on shares of Expensify in a research report on Friday, September 15th. They set an “underweight” rating for the company. Finally, Piper Sandler lowered their price target on Expensify from $4.00 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.50.

Institutional Trading of Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY purchased a new position in Expensify in the 2nd quarter valued at about $25,000. Royal Bank of Canada lifted its stake in shares of Expensify by 117.8% during the third quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock valued at $33,000 after buying an additional 1,178 shares during the period. Quadrature Capital Ltd acquired a new stake in Expensify during the third quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Expensify during the second quarter worth approximately $36,000. Finally, Corton Capital Inc. purchased a new stake in Expensify in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 56.70% of the company’s stock.

About Expensify

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.