Expensify (NASDAQ:EXFY) Rating Lowered to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Expensify (NASDAQ:EXFY) from a buy rating to a hold rating in a report published on Monday.

A number of other equities analysts have also recently issued reports on the stock. Lake Street Capital reduced their price objective on shares of Expensify from $5.00 to $4.50 and set a “buy” rating on the stock in a research note on Friday, May 9th. BMO Capital Markets reduced their price objective on shares of Expensify from $3.00 to $2.50 and set a “market perform” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Expensify currently has an average rating of “Hold” and an average target price of $4.00.

Expensify Stock Performance

Shares of EXFY stock opened at $1.79 on Monday. Expensify has a 52-week low of $1.60 and a 52-week high of $4.13. The stock has a market cap of $143.88 million, a PE ratio of -11.19 and a beta of 1.72. The firm’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $2.79.

Insider Buying and Selling at Expensify

In other news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1.94, for a total transaction of $58,200.00. Following the transaction, the chief executive officer directly owned 1,498,480 shares of the company’s stock, valued at $2,907,051.20. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 113,609 shares of company stock worth $256,206 over the last quarter. Company insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

Several institutional investors have recently added to or reduced their stakes in EXFY. Kapitalo Investimentos Ltda bought a new stake in Expensify in the 2nd quarter valued at $30,000. ProShare Advisors LLC bought a new stake in Expensify in the 2nd quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Expensify in the 2nd quarter valued at $32,000. Mariner LLC bought a new stake in Expensify in the 4th quarter valued at $34,000. Finally, Tower Research Capital LLC TRC lifted its position in Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock valued at $36,000 after acquiring an additional 9,997 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

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.