Jacobs Levy Equity Management Inc. Reduces Holdings in Expensify, Inc. (NASDAQ:EXFY)

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Expensify, Inc. (NASDAQ:EXFY) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,487 shares of the company’s stock after selling 88,392 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.33% of Expensify worth $1,753,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Azora Capital LP purchased a new position in shares of Expensify during the 4th quarter worth approximately $61,000. Mackenzie Financial Corp purchased a new stake in Expensify in the 4th quarter worth approximately $75,000. Quadrature Capital Ltd purchased a new stake in Expensify in the 1st quarter worth approximately $65,000. Wealthspire Advisors LLC purchased a new stake in Expensify in the 4th quarter worth approximately $116,000. Finally, Aristides Capital LLC acquired a new position in shares of Expensify in the 4th quarter valued at $134,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on EXFY. Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 28th. Citigroup decreased their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Expensify in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.20.

Expensify Stock Performance

NASDAQ:EXFY opened at $1.85 on Thursday. The firm’s fifty day simple moving average is $1.66 and its 200 day simple moving average is $1.73. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $8.15.

Expensify (NASDAQ:EXFY) last posted its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business had revenue of $33.50 million for the quarter, compared to analyst estimates of $35.56 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue was down 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Expensify, Inc. will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Timothy L. Christen purchased 19,162 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $1.61 per share, with a total value of $30,850.82. Following the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy L. Christen bought 19,162 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $1.61 per share, for a total transaction of $30,850.82. Following the purchase, the director now owns 122,604 shares in the company, valued at approximately $197,392.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Michael Barrett sold 14,453 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $1.74, for a total transaction of $25,148.22. Following the completion of the sale, 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 quarter, insiders have bought 226,960 shares of company stock valued at $326,906 and have sold 671,091 shares valued at $1,122,790. 17.33% of the stock is currently owned by insiders.

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.