220,758 Shares in Expensify, Inc. (NASDAQ:EXFY) Purchased by 683 Capital Management LLC

683 Capital Management LLC bought a new stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 220,758 shares of the company's stock, valued at approximately $740,000. 683 Capital Management LLC owned approximately 0.29% of Expensify as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of EXFY. Jane Street Group LLC raised its stake in shares of Expensify by 215.6% in the fourth quarter. Jane Street Group LLC now owns 196,069 shares of the company's stock worth $657,000 after buying an additional 133,943 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Expensify during the 4th quarter worth approximately $476,000. Northern Trust Corp lifted its holdings in Expensify by 15.8% during the fourth quarter. Northern Trust Corp now owns 107,305 shares of the company's stock valued at $359,000 after purchasing an additional 14,676 shares in the last quarter. Tudor Investment Corp ET AL boosted 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 worth $971,000 after purchasing an additional 279,588 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Expensify in the fourth quarter worth $48,000. Institutional investors own 68.42% of the company's stock.

Insider Activity

In other news, Director Daniel Vidal sold 9,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the sale, the director now directly owns 232,428 shares of the company's stock, valued at $732,148.20. This represents a 3.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Michael Barrett sold 45,643 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the transaction, the chief executive officer now owns 2,026,590 shares of the company's stock, valued at $7,457,851.20. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,921 shares of company stock worth $886,854 over the last quarter. Insiders own 17.33% of the company's stock.

Expensify Trading Down 0.9 %

EXFY traded down $0.03 on Wednesday, hitting $2.83. 72,841 shares of the company's stock traded hands, compared to its average volume of 632,193. The company's 50 day simple moving average is $3.08 and its 200-day simple moving average is $3.16. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The firm has a market cap of $227.06 million, a price-to-earnings ratio of -15.69 and a beta of 1.86.

Expensify announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.