David Michael Barrett Sells 37,001 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 37,001 shares of Expensify stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $3.27, for a total transaction of $120,993.27. Following the completion of the transaction, the chief executive officer now directly owns 1,808,231 shares in the company, valued at approximately $5,912,915.37. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 17th, David Michael Barrett sold 27,331 shares of Expensify stock. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16.
• 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 stock was sold at an average price of $3.68, for a total value 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 value of $54,658.05.
• On Tuesday, January 21st, David Michael Barrett sold 36,289 shares of Expensify stock. The stock was sold at an average price of $3.32, for a total value 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 value of $110,732.93.
• On Wednesday, January 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $3.50, for a total transaction of $105,000.00.

Expensify Stock Up 0.3 %

Shares of EXFY opened at $3.30 on Friday. The firm has a market cap of $262.37 million, a price-to-earnings ratio of -18.33 and a beta of 1.83. The company’s fifty day moving average is $3.51 and its 200-day moving average is $2.96. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.13.

Expensify declared that its board has authorized a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 20.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

Institutional Trading of Expensify

A number of institutional investors and hedge funds have recently made changes to their positions in EXFY. Topline Capital Management LLC acquired a new position in shares of Expensify during the 4th quarter valued at about $3,085,000. Marshall Wace LLP boosted its position in Expensify by 72.0% during the fourth quarter. Marshall Wace LLP now owns 1,439,877 shares of the company’s stock worth $4,824,000 after purchasing an additional 602,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Expensify by 814.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company’s stock valued at $2,024,000 after purchasing an additional 537,993 shares during the last quarter. Tudor Investment Corp ET AL raised its position in shares of Expensify by 2,760.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 289,717 shares of the company’s stock valued at $971,000 after purchasing an additional 279,588 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in shares of Expensify in the fourth quarter worth $740,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

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.