Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Steven J. Mclaughlin Purchases 418,446 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin acquired 418,446 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was acquired at an average cost of $1.56 per share, for a total transaction of $652,775.76. Following the transaction, the insider now owns 9,434,282 shares of the company’s stock, valued at $14,717,479.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Expensify Price Performance

NASDAQ:EXFY opened at $1.62 on Thursday. Expensify, Inc. has a one year low of $1.40 and a one year high of $8.25. The company has a market cap of $114.34 million, a P/E ratio of -3.18 and a beta of 1.49. The firm’s fifty day moving average price is $1.80 and its two-hundred day moving average price is $2.08.

Expensify (NASDAQ:EXFY) last released 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). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company had revenue of $35.20 million during the quarter, compared to analyst estimates of $36.85 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Expensify’s revenue for the quarter was down 19.1% on a year-over-year basis. As a group, equities research analysts expect that Expensify, Inc. will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On Expensify

Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC grew its stake in shares of Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after acquiring an additional 8,500 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Expensify in the third quarter valued at about $35,000. Corton Capital Inc. acquired a new position in shares of Expensify in the third quarter valued at about $37,000. SG Americas Securities LLC acquired a new position in shares of Expensify in the third quarter valued at about $51,000. Finally, Hsbc Holdings PLC grew its stake in shares of Expensify by 63.5% in the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after acquiring an additional 21,700 shares in the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on EXFY. Citigroup dropped their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler dropped 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.93.

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.