David Michael Barrett Sells 27,331 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 27,331 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $3.36, for a total transaction of $91,832.16. Following the transaction, the chief executive officer now owns 1,889,948 shares in the company, valued at approximately $6,350,225.28. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, March 19th, David Michael Barrett sold 37,001 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total transaction of $120,993.27.
• On Thursday, February 20th, David Michael Barrett sold 31,781 shares of Expensify stock. The shares were sold at an average price of $3.43, for a total transaction of $109,008.83.
• On Tuesday, February 18th, David Michael Barrett sold 45,643 shares of Expensify stock. The shares were sold at an average price of $3.68, for a total transaction of $167,966.24.
• On Thursday, January 23rd, David Michael Barrett sold 16,715 shares of Expensify stock. The shares were sold at an average price of $3.27, for a total transaction of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The shares were sold at an average price of $3.32, for a total transaction of $120,479.48.
• On Friday, January 17th, David Michael Barrett sold 32,473 shares of Expensify stock. The shares were sold at an average price of $3.41, for a total transaction of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Trading Up 0.3 %

NASDAQ:EXFY opened at $3.30 on Friday. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.13. The firm has a fifty day simple moving average of $3.51 and a 200-day simple moving average of $2.96. The company has a market capitalization of $262.37 million, a P/E ratio of -18.33 and a beta of 1.83.

Expensify declared that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mariner LLC purchased a new position in shares of Expensify during the fourth quarter worth $34,000. Tower Research Capital LLC TRC raised its holdings in shares of Expensify by 1,194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company’s stock worth $36,000 after purchasing an additional 9,997 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Expensify during the fourth quarter worth $39,000. Alpine Global Management LLC purchased a new position in shares of Expensify during the fourth quarter worth $40,000. Finally, R Squared Ltd purchased a new position in shares of Expensify during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

EXFY has been the subject of several recent analyst reports. Lake Street Capital raised their target price on shares of Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, February 28th. JMP Securities downgraded shares of Expensify from an “outperform” rating to a “market perform” rating in a research note on Monday, November 25th. Finally, Citigroup lifted their price objective on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

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.