Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells $24,606.50 in Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 16,970 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $1.45, for a total transaction of $24,606.50. Following the completion of the transaction, the chief executive officer now owns 595,507 shares of the company’s stock, valued at $863,485.15. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, June 10th, David Michael Barrett sold 17,110 shares of Expensify stock. The stock was sold at an average price of $1.44, for a total transaction of $24,638.40.
• On Friday, June 7th, David Michael Barrett sold 16,780 shares of Expensify stock. The shares were sold at an average price of $1.47, for a total transaction of $24,666.60.
• On Wednesday, June 5th, David Michael Barrett sold 17,060 shares of Expensify stock. The stock was sold at an average price of $1.44, for a total value of $24,566.40.
• On Monday, June 3rd, David Michael Barrett sold 16,910 shares of Expensify stock. The shares were sold at an average price of $1.46, for a total value of $24,688.60.
• On Thursday, May 30th, David Michael Barrett sold 1,500 shares of Expensify stock. The stock was sold at an average price of $1.63, for a total value of $2,445.00.
• On Tuesday, May 28th, David Michael Barrett sold 14,390 shares of Expensify stock. The shares were sold at an average price of $1.74, for a total value of $25,038.60.
• On Friday, May 24th, David Michael Barrett sold 15,030 shares of Expensify stock. The stock was sold at an average price of $1.66, for a total transaction of $24,949.80.
• On Wednesday, May 22nd, David Michael Barrett sold 14,680 shares of Expensify stock. The shares were sold at an average price of $1.70, for a total transaction of $24,956.00.
• On Monday, May 20th, David Michael Barrett sold 14,643 shares of Expensify stock. The shares were sold at an average price of $1.70, for a total transaction of $24,893.10.
• On Friday, May 17th, David Michael Barrett sold 14,805 shares of Expensify stock. The shares were sold at an average price of $1.69, for a total value of $25,020.45.

Expensify Trading Down 0.7 %

Expensify stock opened at $1.40 on Friday. Expensify, Inc. has a one year low of $1.24 and a one year high of $8.25. The stock has a fifty day moving average of $1.60 and a 200 day moving average of $1.87.

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 forecast that Expensify, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new stake in shares of Expensify during the 3rd quarter valued at $35,000. Corton Capital Inc. purchased a new position in Expensify during the third quarter valued at $37,000. FNY Investment Advisers LLC grew its holdings in Expensify by 212.5% during the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after purchasing an additional 8,500 shares during the period. Azora Capital LP purchased a new stake in Expensify in the fourth quarter worth about $61,000. Finally, Mackenzie Financial Corp bought a new position in shares of Expensify in the fourth quarter worth about $75,000. 68.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EXFY has been the subject of a number of research analyst reports. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 28th. Citigroup reduced their price objective on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. JMP Securities restated a “market perform” rating on shares of Expensify in a research note on Friday. Finally, Piper Sandler dropped their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Expensify has an average rating of “Hold” and a consensus target price of $4.20.

About Expensify

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.