Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells $25,345.98 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 12,801 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $1.98, for a total value of $25,345.98. Following the completion of the sale, the chief executive officer now directly owns 3,235,904 shares in the company, valued at $6,407,089.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Michael Barrett also recently made the following trade(s):

• On Wednesday, August 7th, David Michael Barrett sold 16,260 shares of Expensify stock. The stock was sold at an average price of $1.52, for a total transaction of $24,715.20.
• On Monday, August 5th, David Michael Barrett sold 16,330 shares of Expensify stock. The shares were sold at an average price of $1.51, for a total transaction of $24,658.30.
• On Friday, August 2nd, David Michael Barrett sold 15,475 shares of Expensify stock. The shares were sold at an average price of $1.61, for a total transaction of $24,914.75.
• On Wednesday, July 31st, David Michael Barrett sold 1,500 shares of Expensify stock. The stock was sold at an average price of $1.84, for a total value of $2,760.00.
• On Monday, July 29th, David Michael Barrett sold 9,994 shares of Expensify stock. The shares were sold at an average price of $1.92, for a total value of $19,188.48.
• On Friday, July 26th, David Michael Barrett sold 13,140 shares of Expensify stock. The stock was sold at an average price of $1.93, for a total value of $25,360.20.
• On Wednesday, July 24th, David Michael Barrett sold 12,850 shares of Expensify stock. The shares were sold at an average price of $1.98, for a total value of $25,443.00.
• On Monday, July 22nd, David Michael Barrett sold 13,560 shares of Expensify stock. The stock was sold at an average price of $1.87, for a total transaction of $25,357.20.
• On Friday, July 19th, David Michael Barrett sold 13,350 shares of Expensify stock. The shares were sold at an average price of $1.89, for a total transaction of $25,231.50.
• On Wednesday, July 17th, David Michael Barrett sold 12,385 shares of Expensify stock. The shares were sold at an average price of $2.07, for a total transaction of $25,636.95.

Expensify Stock Performance

Expensify stock opened at $2.10 on Monday. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.84. The stock has a fifty day moving average of $1.66 and a 200 day moving average of $1.72. The stock has a market cap of $181.64 million, a PE ratio of -4.38 and a beta of 1.48.

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

Institutional Trading of Expensify

Large investors have recently added to or reduced their stakes in the business. Wealthspire Advisors LLC raised its position in Expensify by 40.7% in the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after acquiring an additional 19,157 shares during the period. Azora Capital LP purchased a new position in Expensify during the fourth quarter valued at $61,000. Mackenzie Financial Corp bought a new stake in Expensify during the fourth quarter valued at about $75,000. Quadrature Capital Ltd purchased a new stake in Expensify in the first quarter worth about $65,000. Finally, Aristides Capital LLC bought a new position in shares of Expensify in the fourth quarter worth about $134,000. 68.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on EXFY. Citigroup cut their target price on Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. JMP Securities upgraded Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective for the company in a report on Friday. Finally, Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Expensify currently has an average rating of “Hold” and an average price target of $2.63.

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.