Expensify, Inc. (NASDAQ:EXFY) Short Interest Update

Key Points

• Expensify’s short interest fell 49.8% to 749,354 shares as of July 15, representing about 1.0% of outstanding shares and only 0.6 days of average trading volume.
• Analyst sentiment remains weak: Expensify has an average “Reduce” rating, a $2.50 price target, and ratings split between Hold and Sell.
• The stock traded at $1.78, while the company recently reported a quarterly loss of $0.02 per share and revenue of $33.97 million, both below analyst expectations.

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 749,354 shares, a decline of 49.8% from the June 30th total of 1,491,932 shares. Approximately 1.0% of the company's shares are sold short. Based on an average daily trading volume, of 1,288,884 shares, the short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Expensify from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Expensify presently has an average rating of "Reduce" and an average price target of $2.50.

Expensify Stock Performance

Shares of Expensify stock traded down $0.03 during trading on Tuesday, reaching $1.78. The company's stock had a trading volume of 125,107 shares, compared to its average volume of 1,003,464. Expensify has a one year low of $0.69 and a one year high of $2.25. The firm has a market cap of $150.44 million, a price-to-earnings ratio of -7.76 and a beta of 1.68. The business's fifty day moving average price is $1.49 and its 200-day moving average price is $1.24.

Expensify (NASDAQ:EXFY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.04). Expensify had a negative net margin of 14.68% and a negative return on equity of 15.26%. The business had revenue of $33.97 million during the quarter, compared to analyst estimates of $34.25 million.

Insider Buying and Selling

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.15, for a total value of $34,500.00. Following the transaction, the chief executive officer owned 1,228,480 shares in the company, valued at approximately $1,412,752. This represents a 2.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 70,000 shares of company stock worth $78,200 over the last ninety days. 11.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Expensify

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Expensify by 103.2% during the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company's stock worth $4,276,000 after purchasing an additional 714,244 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Expensify in the first quarter valued at about $142,000. Geode Capital Management LLC lifted its stake in shares of Expensify by 134.2% in the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company's stock valued at $3,435,000 after buying an additional 759,982 shares during the period. American Century Companies Inc. grew its position in Expensify by 22.0% during the second quarter. American Century Companies Inc. now owns 121,441 shares of the company's stock worth $315,000 after buying an additional 21,912 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Expensify during the second quarter worth about $157,000. 68.42% of the stock is owned by institutional investors.

About Expensify

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.