Expensify, Inc. (NASDAQ:EXFY) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP lifted its stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 72.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,439,877 shares of the company's stock after purchasing an additional 602,565 shares during the period. Marshall Wace LLP owned about 1.87% of Expensify worth $4,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC purchased a new position in Expensify in the 4th quarter valued at $691,000. Quantbot Technologies LP purchased a new stake in Expensify during the 4th quarter valued at about $68,000. American Century Companies Inc. raised its holdings in Expensify by 67.7% in the 4th quarter. American Century Companies Inc. now owns 68,228 shares of the company's stock valued at $229,000 after acquiring an additional 27,541 shares during the last quarter. Geode Capital Management LLC lifted its stake in Expensify by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 514,948 shares of the company's stock worth $1,010,000 after purchasing an additional 52,385 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Expensify by 814.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock worth $2,024,000 after purchasing an additional 537,993 shares during the last quarter. 68.42% of the stock is owned by hedge funds and other institutional investors.

Expensify Trading Down 0.7 %

Expensify stock traded down $0.02 during midday trading on Wednesday, hitting $2.96. 179,851 shares of the stock were exchanged, compared to its average volume of 636,759. The stock's 50-day simple moving average is $3.10 and its 200 day simple moving average is $3.12. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.13. The stock has a market capitalization of $235.34 million, a price-to-earnings ratio of -16.44 and a beta of 1.87.

Expensify announced that its Board of Directors has authorized a share buyback plan on Thursday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 20.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO David Michael Barrett sold 31,781 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $3.43, for a total value of $109,008.83. Following the sale, the chief executive officer now directly owns 1,947,372 shares in the company, valued at approximately $6,679,485.96. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $3.15, for a total transaction of $28,350.00. Following the transaction, the director now directly owns 232,428 shares of the company's stock, valued at approximately $732,148.20. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,921 shares of company stock valued at $886,854 in the last 90 days. Company insiders own 17.33% of the company's stock.

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.