683 Capital Management LLC Acquires Shares of 220,758 Expensify, Inc. (NASDAQ:EXFY)

683 Capital Management LLC bought a new position in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 220,758 shares of the company's stock, valued at approximately $740,000. 683 Capital Management LLC owned about 0.29% of Expensify as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EXFY. Mariner LLC bought a new stake in shares of Expensify during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC grew its holdings in Expensify by 1,194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company's stock valued at $36,000 after buying an additional 9,997 shares in the last quarter. SG Americas Securities LLC acquired a new position in Expensify in the 4th quarter valued at $39,000. Alpine Global Management LLC bought a new position in Expensify during the fourth quarter worth about $40,000. Finally, R Squared Ltd acquired a new stake in Expensify in the 4th quarter worth about $46,000. Institutional investors own 68.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on Expensify from $3.00 to $5.00 and gave the company a "buy" rating in a research note on Friday, February 28th.

Expensify Stock Down 0.7 %

Shares of Expensify stock opened at $2.94 on Friday. Expensify, Inc. has a 12-month low of $1.24 and a 12-month high of $4.13. The company has a market capitalization of $236.31 million, a price-to-earnings ratio of -16.33 and a beta of 1.87. The firm's 50-day moving average price is $3.09 and its two-hundred day moving average price is $3.12.

Expensify announced that its board has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 20.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 31,781 shares of Expensify stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $3.43, for a total value of $109,008.83. Following the transaction, the chief executive officer now owns 1,947,372 shares in the company, valued at $6,679,485.96. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Vidal sold 9,000 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total value of $28,350.00. Following the transaction, the director now directly owns 232,428 shares of the company's stock, valued at approximately $732,148.20. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,921 shares of company stock worth $886,854. Corporate insiders own 17.33% 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.

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