Expensify, Inc. (NASDAQ:EXFY) Short Interest Update

Expensify, Inc. (NASDAQ:EXFY) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,380,000 shares, an increase of 8.7% from the May 31st total of 2,190,000 shares. Based on an average daily volume of 497,700 shares, the short-interest ratio is presently 4.8 days. Currently, 5.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup dropped 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 reaffirmed a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.20.

Expensify Stock Performance

Shares of Expensify stock traded up $0.02 during trading on Wednesday, reaching $1.52. 150,921 shares of the company’s stock were exchanged, compared to its average volume of 621,096. The firm’s 50-day moving average price is $1.58 and its 200 day moving average price is $1.78. The company has a market cap of $131.47 million, a P/E ratio of -3.16 and a beta of 1.47. Expensify has a 1-year low of $1.24 and a 1-year high of $8.25.

Expensify (NASDAQ:EXFY) last posted its earnings results on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $33.50 million during the quarter, compared to the consensus estimate of $35.56 million. Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. As a group, equities research analysts predict that Expensify will post -0.11 EPS for the current year.

Insider Buying and Selling

In other news, Director Timothy L. Christen acquired 19,162 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $1.61 per share, with a total value of $30,850.82. Following the acquisition, the director now directly owns 122,604 shares in the company, valued at approximately $197,392.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Expensify news, Director Timothy L. Christen acquired 19,162 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $1.61 per share, with a total value of $30,850.82. Following the acquisition, the director now directly owns 122,604 shares of the company’s stock, valued at approximately $197,392.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Michael Barrett sold 14,453 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $1.74, for a total transaction of $25,148.22. Following the transaction, the chief executive officer now owns 935,419 shares in the company, valued at approximately $1,627,629.06. The disclosure for this sale can be found here. In the last ninety days, insiders bought 935,542 shares of company stock valued at $1,406,410 and sold 592,437 shares valued at $918,632. 17.33% of the stock is currently owned by insiders.

Institutional Trading of Expensify

A number of hedge funds have recently added to or reduced their stakes in EXFY. Quadrature Capital Ltd acquired a new stake in shares of Expensify during the 3rd quarter valued at $35,000. Corton Capital Inc. bought a new stake in shares of Expensify during the third quarter worth about $37,000. FNY Investment Advisers LLC increased its stake in shares of Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after buying an additional 8,500 shares during the period. Azora Capital LP bought a new position in Expensify in the 4th quarter valued at approximately $61,000. Finally, Mackenzie Financial Corp acquired a new stake in Expensify during the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.