Insider Buying: Expensify (NASDAQ:EXFY) Major Shareholder Buys 327,144 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin acquired 327,144 shares of Expensify stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average cost of $1.02 per share, for a total transaction of $333,686.88. Following the purchase, the insider owned 10,767,093 shares of the company’s stock, valued at $10,982,434.86. The trade was a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Stock Performance

Shares of EXFY traded up $0.02 during mid-day trading on Wednesday, reaching $0.77. 1,228,277 shares of the company were exchanged, compared to its average volume of 743,140. Expensify, Inc. has a 52 week low of $0.69 and a 52 week high of $3.60. The stock has a market capitalization of $62.00 million, a PE ratio of -3.19 and a beta of 1.74. The business has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $1.52.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.13). Expensify had a negative net margin of 15.05% and a negative return on equity of 16.00%. The firm had revenue of $35.20 million for the quarter, compared to analyst estimates of $35.50 million.

Hedge Funds Weigh In On Expensify

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Abel Hall LLC acquired a new stake in shares of Expensify in the 4th quarter valued at about $25,000. SG Americas Securities LLC acquired a new position in Expensify during the 4th quarter worth approximately $27,000. Savant Capital LLC acquired a new position in Expensify during the 3rd quarter worth approximately $30,000. Police & Firemen s Retirement System of New Jersey bought a new position in Expensify in the second quarter worth approximately $32,000. Finally, ProShare Advisors LLC acquired a new stake in Expensify in the second quarter valued at approximately $32,000. Institutional investors own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EXFY. Weiss Ratings reissued a “sell (d-)” rating on shares of Expensify in a research note on Monday, December 29th. Wall Street Zen cut shares of Expensify from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.50.

Expensify Company Profile

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.