Steven Mclaughlin Acquires 480,389 Shares of Expensify (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven Mclaughlin acquired 480,389 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $0.96 per share, for a total transaction of $461,173.44. Following the acquisition, the insider directly owned 11,247,482 shares in the company, valued at approximately $10,797,582.72. This trade represents a 4.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Expensify Trading Up 2.6%

Expensify stock traded up $0.02 during midday trading on Wednesday, reaching $0.77. 1,228,277 shares of the stock traded hands, compared to its average volume of 743,140. The company has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $1.52. Expensify, Inc. has a 12-month low of $0.69 and a 12-month high of $3.60. The firm has a market cap of $62.00 million, a PE ratio of -3.19 and a beta of 1.74.

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

Institutional Investors Weigh In On Expensify

Hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in shares of Expensify in the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Expensify during the second quarter worth approximately $32,000. Heron Bay Capital Management acquired a new stake in Expensify in the second quarter valued at approximately $37,000. Abel Hall LLC acquired a new stake in Expensify in the fourth quarter valued at approximately $25,000. Finally, Savant Capital LLC purchased a new position in Expensify in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EXFY shares. Weiss Ratings reaffirmed 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 investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.50.

About Expensify

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.