Expensify, Inc. (NASDAQ:EXFY) CEO Sells $58,200.00 in Stock

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 stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1.94, for a total transaction of $58,200.00. Following the sale, the chief executive officer directly owned 1,498,480 shares in the company, valued at approximately $2,907,051.20. This represents a 1.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was 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 shares were sold at an average price of $2.28, for a total value of $5,123.16.
• On Thursday, May 15th, David Michael Barrett sold 30,000 shares of Expensify stock. The shares were sold at an average price of $2.35, for a total value of $70,500.00.

Expensify Price Performance

Shares of EXFY stock traded down $0.24 during trading hours on Friday, reaching $1.71. The company had a trading volume of 801,776 shares, compared to its average volume of 533,076. Expensify, Inc. has a 1-year low of $1.62 and a 1-year high of $4.13. The firm has a market cap of $137.04 million, a price-to-earnings ratio of -18.56 and a beta of 1.72. The company has a 50 day moving average of $2.28 and a 200 day moving average of $2.82.

Institutional Investors Weigh In On Expensify

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd boosted its holdings in Expensify by 38.2% during the first quarter. R Squared Ltd now owns 18,790 shares of the company's stock worth $57,000 after buying an additional 5,190 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Expensify by 4.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 125,800 shares of the company's stock valued at $382,000 after acquiring an additional 5,700 shares during the period. State of Wyoming boosted its stake in Expensify by 13.3% during the 4th quarter. State of Wyoming now owns 52,364 shares of the company's stock worth $175,000 after acquiring an additional 6,138 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Expensify by 1,194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company's stock valued at $36,000 after purchasing an additional 9,997 shares during the period. Finally, Mariner LLC acquired a new position in Expensify during the fourth quarter valued at approximately $34,000. Institutional investors own 68.42% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets cut their price target on Expensify from $3.00 to $2.50 and set a "market perform" rating on the stock in a research note on Friday. Wall Street Zen downgraded shares of Expensify from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, Lake Street Capital lowered their price target on shares of Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3.63.

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.