Expensify, Inc. (NASDAQ:EXFY) Short Interest Update

Expensify, Inc. (NASDAQ:EXFY) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 453,800 shares, a drop of 8.9% from the September 30th total of 498,300 shares. Based on an average daily volume of 532,600 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, JMP Securities upgraded Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective for the company in a report on Friday, August 9th.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 11,095 shares of Expensify stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $2.28, for a total transaction of $25,296.60. Following the completion of the transaction, the chief executive officer now owns 173,820 shares in the company, valued at approximately $396,309.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Expensify news, CEO David Michael Barrett sold 11,095 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $2.28, for a total transaction of $25,296.60. Following the completion of the transaction, the chief executive officer now directly owns 173,820 shares in the company, valued at $396,309.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anuradha Muralidharan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $2.35, for a total value of $47,000.00. Following the completion of the transaction, the chief operating officer now directly owns 40,224 shares of the company’s stock, valued at $94,526.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 771,126 shares of company stock worth $1,768,625 over the last ninety days. 17.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Expensify by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after acquiring an additional 476,687 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Expensify by 74.4% during the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after purchasing an additional 129,689 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Expensify during the first quarter valued at approximately $65,000. Wealthspire Advisors LLC increased its holdings in shares of Expensify by 40.7% in the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after buying an additional 19,157 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Expensify during the 2nd quarter worth $53,000. 68.42% of the stock is owned by institutional investors.

Expensify Price Performance

Shares of NASDAQ EXFY traded down $0.02 during midday trading on Friday, reaching $1.87. The company’s stock had a trading volume of 366,941 shares, compared to its average volume of 712,681. The firm has a 50 day moving average price of $2.07 and a 200-day moving average price of $1.84. The stock has a market capitalization of $143.69 million, a P/E ratio of -5.05 and a beta of 1.52. Expensify has a 12-month low of $1.24 and a 12-month high of $2.92.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The business had revenue of $33.29 million for the quarter, compared to the consensus estimate of $35.69 million. Expensify had a negative return on equity of 29.82% and a negative net margin of 22.41%.

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.