Mariner LLC Makes New $34,000 Investment in Expensify, Inc. (NASDAQ:EXFY)

Mariner LLC acquired a new stake in shares of Expensify, Inc. (NASDAQ:EXFY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in Expensify in the fourth quarter valued at approximately $691,000. JPMorgan Chase & Co. increased its position in shares of Expensify by 35.0% in the fourth quarter. JPMorgan Chase & Co. now owns 215,933 shares of the company’s stock worth $723,000 after acquiring an additional 55,931 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Expensify in the 4th quarter valued at $68,000. American Century Companies Inc. boosted its position in Expensify by 67.7% during the 4th quarter. American Century Companies Inc. now owns 68,228 shares of the company’s stock worth $229,000 after purchasing an additional 27,541 shares during the period. Finally, Geode Capital Management LLC boosted its position in Expensify by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 544,680 shares of the company’s stock worth $1,825,000 after purchasing an additional 29,732 shares during the period. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Lake Street Capital reduced their price objective on Expensify from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday.

Expensify Trading Down 21.6 %

NASDAQ EXFY opened at $2.40 on Friday. The stock has a market cap of $192.90 million, a P/E ratio of -13.33 and a beta of 1.86. The company’s fifty day simple moving average is $3.02 and its 200-day simple moving average is $3.17. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.09). Expensify had a negative return on equity of 14.72% and a negative net margin of 11.81%.

Expensify announced that its board has authorized a stock buyback program on Thursday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 20.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 45,643 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $3.68, for a total value of $167,966.24. Following the transaction, the chief executive officer now directly owns 2,026,590 shares of the company’s stock, valued at $7,457,851.20. This represents a 2.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total value of $28,350.00. Following the transaction, the director now owns 232,428 shares of the company’s stock, valued at approximately $732,148.20. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,921 shares of company stock valued at $886,854. Insiders own 17.33% of the company’s stock.

Expensify 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.