Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Acquires 135,158 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin purchased 135,158 shares of Expensify stock in a transaction dated Wednesday, April 17th. The shares were bought at an average price of $1.50 per share, with a total value of $202,737.00. Following the completion of the acquisition, the insider now directly owns 8,989,644 shares of the company’s stock, valued at $13,484,466. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Stock Performance

NASDAQ EXFY opened at $1.64 on Monday. Expensify, Inc. has a one year low of $1.40 and a one year high of $8.64. The stock has a 50-day moving average of $1.81 and a 200 day moving average of $2.15. The company has a market capitalization of $115.75 million, a price-to-earnings ratio of -3.22 and a beta of 1.49.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Expensify by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after purchasing an additional 1,123 shares during the last quarter. Royal Bank of Canada boosted its position in Expensify by 117.8% in the third quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after purchasing an additional 1,178 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Expensify by 1.8% in the first quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock worth $1,282,000 after purchasing an additional 1,297 shares during the last quarter. UBS Group AG purchased a new position in Expensify in the third quarter worth about $56,000. Finally, State of Wyoming boosted its position in Expensify by 63.5% in the second quarter. State of Wyoming now owns 11,072 shares of the company’s stock worth $88,000 after purchasing an additional 4,302 shares during the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.