Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 54,685 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 54,685 shares of Expensify stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.74, for a total transaction of $95,151.90. Following the transaction, the chief executive officer now directly owns 1,324,438 shares of the company’s stock, valued at $2,304,522.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 25th, David Michael Barrett sold 85,730 shares of Expensify stock. The shares were sold at an average price of $1.77, for a total transaction of $151,742.10.
• On Friday, March 22nd, David Michael Barrett sold 83,289 shares of Expensify stock. The shares were sold at an average price of $1.82, for a total transaction of $151,585.98.
• On Wednesday, March 20th, David Michael Barrett sold 11,627 shares of Expensify stock. The shares were sold at an average price of $1.91, for a total transaction of $22,207.57.
• On Monday, March 18th, David Michael Barrett sold 81,301 shares of Expensify stock. The shares were sold at an average price of $1.86, for a total transaction of $151,219.86.
• On Friday, March 15th, David Michael Barrett sold 80,082 shares of Expensify stock. The shares were sold at an average price of $1.97, for a total transaction of $157,761.54.
• On Monday, March 11th, David Michael Barrett sold 7,311 shares of Expensify stock. The shares were sold at an average price of $2.14, for a total transaction of $15,645.54.

Expensify Stock Up 2.8 %

EXFY stock opened at $1.84 on Friday. The company has a market cap of $129.87 million, a PE ratio of -3.61 and a beta of 1.51. The business has a 50-day simple moving average of $1.85 and a 200 day simple moving average of $2.37. Expensify, Inc. has a 52 week low of $1.52 and a 52 week high of $8.69.

Expensify (NASDAQ:EXFY) last issued its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The business had revenue of $35.20 million for the quarter, compared to analyst estimates of $36.85 million. Expensify had a negative return on equity of 41.91% and a negative net margin of 27.70%. The firm’s revenue was down 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, analysts anticipate that Expensify, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Expensify by 287.3% during the second quarter. BlackRock Inc. now owns 4,116,270 shares of the company’s stock worth $32,848,000 after acquiring an additional 3,053,582 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Expensify by 58.8% in the third quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after buying an additional 1,431,326 shares during the period. SVB Wealth LLC increased its stake in shares of Expensify by 63.9% in the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock valued at $8,297,000 after buying an additional 1,309,037 shares during the period. Capital Research Global Investors increased its stake in shares of Expensify by 27.3% in the first quarter. Capital Research Global Investors now owns 2,120,087 shares of the company’s stock valued at $37,229,000 after buying an additional 455,026 shares during the period. Finally, Durable Capital Partners LP increased its stake in shares of Expensify by 27.5% in the first quarter. Durable Capital Partners LP now owns 2,069,629 shares of the company’s stock valued at $36,343,000 after buying an additional 445,937 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price target on Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Expensify currently has a consensus rating of “Hold” and an average price target of $6.50.

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.