Steven J. Mclaughlin Buys 248,712 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

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

Expensify Price Performance

NASDAQ EXFY opened at $1.59 on Friday. The firm has a market capitalization of $112.22 million, a P/E ratio of -3.12 and a beta of 1.49. Expensify, Inc. has a 1-year low of $1.40 and a 1-year high of $8.64. The business’s 50-day simple moving average is $1.81 and its 200-day simple moving average is $2.17.

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

Analysts Set New Price Targets

Separately, Piper Sandler dropped their price objective on Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Two equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.50.

Hedge Funds Weigh In On Expensify

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Expensify by 117.8% in the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock valued at $33,000 after purchasing an additional 1,178 shares in the last quarter. UBS Group AG acquired a new position in shares of Expensify in the 3rd quarter valued at about $56,000. Ameritas Investment Partners Inc. acquired a new position in Expensify during the 2nd quarter worth approximately $36,000. Quantbot Technologies LP acquired a new position in Expensify during the 1st quarter worth approximately $86,000. Finally, Ensign Peak Advisors Inc acquired a new position in Expensify during the 3rd quarter worth approximately $89,000. 68.42% of the stock is owned by institutional investors and hedge funds.

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.