Expensify, Inc. (NASDAQ:EXFY - Get Free Report) major shareholder Steven J. Mclaughlin purchased 12,999 shares of the firm's stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $1.45 per share, for a total transaction of $18,848.55. Following the completion of the transaction, the insider now directly owns 9,716,363 shares in the company, valued at $14,088,726.35. The transaction was disclosed in a document filed with the SEC, which is available at 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 Price Performance
Shares of EXFY stock opened at $1.49 on Friday. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $8.25. The firm has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.80.
Expensify (NASDAQ:EXFY - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The firm had revenue of $33.50 million for the quarter, compared to the consensus estimate of $35.56 million. During the same period in the prior year, the business earned ($0.07) earnings per share. The company's revenue for the quarter was down 16.5% on a year-over-year basis. On average, research analysts predict that Expensify, Inc. will post -0.11 EPS for the current year.
Hedge Funds Weigh In On Expensify
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A number of institutional investors have recently modified their holdings of EXFY. Hsbc Holdings PLC raised its stake in shares of Expensify by 63.5% in the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company's stock worth $184,000 after acquiring an additional 21,700 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Expensify in the third quarter worth about $156,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Expensify by 287.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 108,415 shares of the company's stock worth $352,000 after acquiring an additional 80,410 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Expensify in the third quarter worth about $37,000. Finally, Quadrature Capital Ltd bought a new position in shares of Expensify in the third quarter worth about $35,000. 68.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on EXFY. Citigroup decreased their target price on shares of Expensify from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, April 23rd. JMP Securities reiterated a "market perform" rating on shares of Expensify in a research report on Friday, June 14th. Finally, Morgan Stanley upgraded shares of Expensify from an "underweight" rating to an "equal weight" rating in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Expensify has an average rating of "Hold" and a consensus price target of $4.20.
Check Out Our Latest Stock Report on Expensify
Expensify Company Profile
(
Get Free Report)
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.
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