Expensify Sees Unusually High Options Volume (NASDAQ:EXFY)

Expensify, Inc. (NASDAQ:EXFYGet Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 4,361 call options on the company. This is an increase of approximately 9,591% compared to the typical daily volume of 45 call options.

Insiders Place Their Bets

In other Expensify news, CEO David Michael Barrett sold 14,091 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1.78, for a total value of $25,081.98. Following the completion of the transaction, the chief executive officer now directly owns 892,158 shares of the company’s stock, valued at $1,588,041.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Expensify news, CEO David Michael Barrett sold 14,091 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $1.78, for a total value of $25,081.98. Following the transaction, the chief executive officer now directly owns 892,158 shares in the company, valued at approximately $1,588,041.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ryan Schaffer sold 75,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $2.00, for a total value of $150,000.00. Following the sale, the chief financial officer now owns 144,635 shares of the company’s stock, valued at approximately $289,270. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 935,542 shares of company stock valued at $1,406,410 and have sold 685,468 shares valued at $1,093,071. Insiders own 17.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its position in shares of Expensify by 63.5% in the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock valued at $184,000 after purchasing an additional 21,700 shares during the period. Walleye Capital LLC boosted its holdings in shares of Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after buying an additional 570,495 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Expensify during the third quarter worth $35,000. Citigroup Inc. raised its holdings in shares of Expensify by 186.5% during the third quarter. Citigroup Inc. now owns 49,589 shares of the company’s stock worth $161,000 after acquiring an additional 32,279 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in Expensify in the 4th quarter valued at $75,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Expensify Price Performance

Expensify stock opened at $2.00 on Wednesday. Expensify has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The firm has a market capitalization of $172.98 million, a price-to-earnings ratio of -4.17 and a beta of 1.47. The company’s 50 day simple moving average is $1.58 and its 200 day simple moving average is $1.76.

Expensify (NASDAQ:EXFYGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The firm had revenue of $33.50 million for the quarter, compared to the consensus estimate of $35.56 million. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) earnings per share. As a group, analysts predict that Expensify will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EXFY shares. JMP Securities reaffirmed a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. Morgan Stanley raised shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, Citigroup dropped their target price on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.20.

Get Our Latest Research Report on Expensify

About Expensify

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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.

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