Bailard Inc. Makes New Investment in Expensify, Inc. (NASDAQ:EXFY)

Bailard Inc. bought a new stake in Expensify, Inc. (NASDAQ:EXFY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,621 shares of the company’s stock, valued at approximately $146,000. Bailard Inc. owned about 0.06% of Expensify at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Expensify in the 4th quarter valued at about $39,000. R Squared Ltd bought a new position in shares of Expensify in the fourth quarter valued at approximately $46,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after acquiring an additional 22,504 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Expensify by 76.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock valued at $130,000 after acquiring an additional 28,731 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Expensify by 29.6% during the third quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock worth $135,000 after acquiring an additional 15,730 shares during the period. 68.42% of the stock is owned by institutional investors.

Expensify Price Performance

NASDAQ:EXFY opened at $3.72 on Thursday. The company has a market capitalization of $287.02 million, a P/E ratio of -20.67 and a beta of 1.87. The business has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $2.87. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13.

Expensify declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 20.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup upped their price objective on Expensify from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th. JMP Securities lowered shares of Expensify from an “outperform” rating to a “market perform” rating in a research report on Monday, November 25th. Finally, Lake Street Capital lifted their price objective on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, February 28th.

Insider Transactions at Expensify

In related news, CEO David Michael Barrett sold 31,781 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $3.43, for a total transaction of $109,008.83. Following the sale, the chief executive officer now directly owns 1,947,372 shares in the company, valued at approximately $6,679,485.96. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Anuradha Muralidharan sold 12,320 shares of Expensify stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $3.85, for a total transaction of $47,432.00. Following the completion of the transaction, the chief operating officer now owns 4,614 shares of the company’s stock, valued at $17,763.90. This represents a 72.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,680 shares of company stock worth $881,370. 17.33% of the stock is owned by company insiders.

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.