D. E. Shaw & Co. Inc. Sells 305,540 Shares of Expensify, Inc. (NASDAQ:EXFY)

D. E. Shaw & Co. Inc. trimmed its position in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,419,558 shares of the company's stock after selling 305,540 shares during the quarter. D. E. Shaw & Co. Inc. owned 3.14% of Expensify worth $8,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EXFY. Ameriprise Financial Inc. lifted its position in Expensify by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,218,204 shares of the company's stock valued at $7,431,000 after acquiring an additional 20,224 shares in the last quarter. Marshall Wace LLP grew its stake in Expensify by 72.0% in the 4th quarter. Marshall Wace LLP now owns 1,439,877 shares of the company's stock valued at $4,824,000 after buying an additional 602,565 shares during the last quarter. Formula Growth Ltd. grew its stake in Expensify by 1.6% in the 4th quarter. Formula Growth Ltd. now owns 950,000 shares of the company's stock valued at $3,182,000 after buying an additional 15,000 shares during the last quarter. Topline Capital Management LLC acquired a new position in Expensify in the 4th quarter valued at about $3,085,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Expensify by 33.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 757,001 shares of the company's stock valued at $2,536,000 after buying an additional 190,345 shares during the last quarter. 68.42% of the stock is owned by institutional investors.

Insider Transactions at Expensify

In other Expensify news, CEO David Michael Barrett sold 45,643 shares of the company's 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 completion of the transaction, the chief executive officer now directly owns 2,026,590 shares in the company, valued at approximately $7,457,851.20. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Vidal sold 9,000 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the completion of the transaction, the director now owns 232,428 shares of the company's stock, valued at approximately $732,148.20. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,921 shares of company stock valued at $886,854. Company insiders own 12.27% of the company's stock.

Expensify Trading Up 2.6%

Shares of Expensify stock opened at $2.39 on Friday. The company has a 50 day moving average of $2.92 and a 200-day moving average of $3.18. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13. The company has a market cap of $192.10 million, a PE ratio of -13.28 and a beta of 1.86.

Expensify declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 27th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 20.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Separately, Lake Street Capital cut their price objective on shares of Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a report on Friday, May 9th.

Expensify Company Profile

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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