Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett Sells 30,000 Shares

Key Points

• Expensify CEO David Michael Barrett sold 30,000 shares of the company at an average price of $1.94, totaling $58,200, which represents a 1.96% decrease in his ownership stake.
• The stock price of Expensify increased by 2.3% during mid-day trading, reaching $2.03, with a market capitalization of $162.77 million.
• Analysts have recently adjusted their ratings on Expensify, with Wall Street Zen downgrading it from a "strong-buy" to a "buy" while Lake Street Capital reduced their price target from $5.00 to $4.50.

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) CEO David Michael Barrett sold 30,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1.94, for a total transaction of $58,200.00. Following the transaction, the chief executive officer owned 1,498,480 shares of the company's stock, valued at approximately $2,907,051.20. The trade was a 1.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

David Michael Barrett also recently made the following trade(s):

• On Tuesday, July 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $2.56, for a total transaction of $76,800.00.
• On Tuesday, June 17th, David Michael Barrett sold 2,247 shares of Expensify stock. The stock was sold at an average price of $2.28, for a total transaction of $5,123.16.
• On Thursday, May 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $2.35, for a total transaction of $70,500.00.

Expensify Stock Down 3.1%

NASDAQ EXFY traded down $0.07 during trading hours on Wednesday, hitting $2.01. 129,457 shares of the stock were exchanged, compared to its average volume of 527,356. The company has a market cap of $161.16 million, a price-to-earnings ratio of -22.28 and a beta of 1.72. Expensify, Inc. has a 12-month low of $1.50 and a 12-month high of $4.13. The stock has a 50-day moving average of $2.29 and a 200 day moving average of $2.83.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Palogic Value Management L.P. raised its holdings in Expensify by 24.0% during the second quarter. Palogic Value Management L.P. now owns 501,420 shares of the company's stock worth $1,299,000 after purchasing an additional 96,935 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Expensify in the second quarter valued at about $30,000. Acadian Asset Management LLC increased its holdings in Expensify by 64.8% in the first quarter. Acadian Asset Management LLC now owns 1,418,512 shares of the company's stock valued at $4,308,000 after buying an additional 557,533 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Expensify in the first quarter valued at about $142,000. Finally, Millennium Management LLC increased its holdings in Expensify by 103.2% in the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company's stock valued at $4,276,000 after buying an additional 714,244 shares in the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EXFY has been the subject of several recent research reports. Wall Street Zen downgraded shares of Expensify from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Lake Street Capital decreased their target price on shares of Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a research note 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.