SVB Wealth LLC Has $8.30 Million Holdings in Expensify, Inc. (NASDAQ:EXFY)

SVB Wealth LLC grew its holdings in shares of Expensify, Inc. (NASDAQ:EXFY) by 63.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,359,037 shares of the company’s stock after acquiring an additional 1,309,037 shares during the quarter. SVB Wealth LLC’s holdings in Expensify were worth $8,297,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Expensify by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after acquiring an additional 1,123 shares during the period. Royal Bank of Canada lifted its holdings in shares of Expensify by 117.8% during the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after acquiring an additional 1,178 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Expensify by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,297 shares during the period. UBS Group AG bought a new stake in shares of Expensify during the 3rd quarter worth approximately $56,000. Finally, State of Wyoming lifted its holdings in shares of Expensify by 63.5% during the 2nd quarter. State of Wyoming now owns 11,072 shares of the company’s stock worth $88,000 after acquiring an additional 4,302 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

Insider Transactions at Expensify

In other news, major shareholder Steven J. Mclaughlin acquired 196,076 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was bought at an average cost of $1.76 per share, for a total transaction of $345,093.76. Following the completion of the transaction, the insider now directly owns 8,305,298 shares in the company, valued at approximately $14,617,324.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Steven J. Mclaughlin purchased 196,076 shares of Expensify stock in a transaction on Friday, January 26th. The stock was acquired at an average cost of $1.76 per share, for a total transaction of $345,093.76. Following the completion of the acquisition, the insider now owns 8,305,298 shares of the company’s stock, valued at approximately $14,617,324.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Anuradha Muralidharan sold 16,584 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $2.14, for a total transaction of $35,489.76. Following the completion of the sale, the chief operating officer now owns 77,080 shares of the company’s stock, valued at $164,951.20. The disclosure for this sale can be found here. Over the last three months, insiders bought 420,473 shares of company stock worth $709,347 and sold 556,698 shares worth $1,023,461. 20.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.50.

Expensify Price Performance

Shares of NASDAQ:EXFY opened at $1.45 on Wednesday. The firm has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $2.18. Expensify, Inc. has a one year low of $1.40 and a one year high of $8.64.

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

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.