Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Buys $355,658.16 in Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin purchased 248,712 shares of the stock in a transaction dated Monday, April 15th. The stock was acquired at an average cost of $1.43 per share, for a total transaction of $355,658.16. Following the transaction, the insider now owns 8,778,407 shares of the company’s stock, valued at $12,553,122.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Expensify Trading Up 3.1 %

Shares of NASDAQ:EXFY opened at $1.64 on Friday. The company has a 50 day moving average of $1.81 and a 200 day moving average of $2.16. The stock has a market cap of $115.75 million, a P/E ratio of -3.22 and a beta of 1.49. Expensify, Inc. has a 12 month low of $1.40 and a 12 month high of $8.64.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $35.20 million for the quarter, compared to analysts’ expectations of $36.85 million. Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. Expensify’s revenue was down 19.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, equities analysts forecast that Expensify, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Expensify

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Expensify by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after buying an additional 1,123 shares in the last quarter. Royal Bank of Canada grew its stake in Expensify by 117.8% in the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after buying an additional 1,178 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Expensify by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock worth $1,282,000 after buying an additional 1,297 shares in the last quarter. UBS Group AG purchased a new position in Expensify in the 3rd quarter worth approximately $56,000. Finally, State of Wyoming grew its stake in Expensify by 63.5% in the 2nd quarter. State of Wyoming now owns 11,072 shares of the company’s stock worth $88,000 after buying an additional 4,302 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Expensify has a consensus rating of “Hold” and a consensus price target of $6.50.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises 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.