Expensify, Inc. (NASDAQ:EXFY) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Expensify, Inc. has received a consensus recommendation of "Hold" from five ratings firms, with one sell rating, two hold ratings, and two buy ratings.
• The average twelve-month target price for Expensify's stock is currently $4.00, as reported by brokerage firms.
• Insider trading activity included CEO David Michael Barrett selling 30,000 shares at an average price of $1.92, leading to a 2% decrease in his ownership of the stock.

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $4.00.

A number of research firms have recently weighed in on EXFY. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Expensify in a research report on Saturday, September 27th. Wall Street Zen raised shares of Expensify from a "hold" rating to a "buy" rating in a research note on Tuesday, August 19th. Finally, BMO Capital Markets dropped their price objective on shares of Expensify from $3.00 to $2.50 and set a "market perform" rating on the stock in a research note on Friday, August 8th.

Expensify Trading Up 1.7%

Shares of EXFY traded up $0.03 on Friday, reaching $1.80. The stock had a trading volume of 350,532 shares, compared to its average volume of 511,026. The company has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $2.34. Expensify has a 12-month low of $1.60 and a 12-month high of $4.13.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1.92, for a total value of $57,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,468,480 shares of the company's stock, valued at approximately $2,819,481.60. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Anuradha Muralidharan sold 25,245 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $1.94, for a total transaction of $48,975.30. Following the sale, the chief operating officer directly owned 61,041 shares of the company's stock, valued at $118,419.54. This trade represents a 29.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,167 shares of company stock valued at $283,481. 12.27% of the stock is owned by corporate insiders.

Institutional Trading of Expensify

A number of large investors have recently made changes to their positions in the stock. R Squared Ltd boosted its holdings in Expensify by 38.2% in the first quarter. R Squared Ltd now owns 18,790 shares of the company's stock worth $57,000 after purchasing an additional 5,190 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Expensify by 4.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 125,800 shares of the company's stock worth $382,000 after buying an additional 5,700 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Expensify in the second quarter worth approximately $30,000. ProShare Advisors LLC bought a new position in Expensify in the second quarter worth approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Expensify in the second quarter worth approximately $32,000. 68.42% of the stock is currently owned by institutional investors.

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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