Expensify, Inc. (NASDAQ:EXFY) Sees Significant Decline in Short Interest

Expensify, Inc. (NASDAQ:EXFY) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 453,800 shares, a decline of 8.9% from the September 30th total of 498,300 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 532,600 shares, the short-interest ratio is presently 0.9 days.

Expensify Price Performance

Expensify stock traded down $0.02 during midday trading on Friday, reaching $1.87. The company’s stock had a trading volume of 359,473 shares, compared to its average volume of 712,646. Expensify has a 52-week low of $1.24 and a 52-week high of $2.92. The stock’s 50-day simple moving average is $2.07 and its 200-day simple moving average is $1.84. The stock has a market capitalization of $143.69 million, a P/E ratio of -5.07 and a beta of 1.52.

Expensify (NASDAQ:EXFY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $33.29 million for the quarter, compared to analysts’ expectations of $35.69 million. Expensify had a negative return on equity of 29.82% and a negative net margin of 22.41%.

Insider Activity

In related news, COO Anuradha Muralidharan sold 20,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $2.35, for a total transaction of $47,000.00. Following the transaction, the chief operating officer now directly owns 40,224 shares of the company’s stock, valued at approximately $94,526.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Anuradha Muralidharan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $2.35, for a total transaction of $47,000.00. Following the transaction, the chief operating officer now directly owns 40,224 shares in the company, valued at $94,526.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Michael Barrett sold 11,095 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $2.28, for a total value of $25,296.60. Following the completion of the transaction, the chief executive officer now owns 173,820 shares in the company, valued at $396,309.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 771,126 shares of company stock valued at $1,768,625 in the last three months. Corporate insiders own 17.33% of the company’s stock.

Hedge Funds Weigh In On Expensify

Hedge funds have recently added to or reduced their stakes in the business. Wealthspire Advisors LLC lifted its position in shares of Expensify by 40.7% during the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after purchasing an additional 19,157 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Expensify in the 1st quarter valued at $65,000. Marshall Wace LLP acquired a new position in Expensify in the 2nd quarter worth approximately $53,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Expensify during the second quarter worth $86,000. Finally, Acadian Asset Management LLC raised its holdings in Expensify by 74.4% during the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after buying an additional 129,689 shares in the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JMP Securities upgraded shares of Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 target price on the stock in a report on Friday, August 9th.

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.