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

Key Points

• CEO David Michael Barrett sold 30,000 Expensify shares on April 1 at an average price of $0.85, worth about $25,500. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Barrett has also been selling shares in recent weeks, with prior transactions on March 17 and March 24, and other reported sales earlier in the year. After the latest sale, he still directly owned 1,198,480 shares.
• Expensify recently missed earnings expectations, reporting a quarterly loss of $0.02 per share versus estimates for a $0.02 profit, while revenue came in slightly below consensus. The stock was trading near $1.28 and remains below its 52-week high of $2.64.

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) CEO David Michael Barrett sold 30,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $0.85, for a total value of $25,500.00. Following the completion of the sale, the chief executive officer directly owned 1,198,480 shares of the company's stock, valued at approximately $1,018,708. This represents a 2.44% decrease in their position. The sale 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.

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

• On Tuesday, March 24th, David Michael Barrett sold 10,114 shares of Expensify stock. The stock was sold at an average price of $0.84, for a total value of $8,495.76.
• On Tuesday, March 17th, David Michael Barrett sold 2,692 shares of Expensify stock. The stock was sold at an average price of $0.76, for a total value of $2,045.92.
• On Monday, June 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.15, for a total value of $34,500.00.
• On Friday, May 1st, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.08, for a total value of $32,400.00.

Expensify Stock Performance

EXFY traded up $0.03 during midday trading on Thursday, hitting $1.28. The stock had a trading volume of 935,203 shares, compared to its average volume of 768,017. The company has a market cap of $107.88 million, a P/E ratio of -5.57 and a beta of 1.79. The business has a fifty day moving average of $1.02 and a 200 day moving average of $1.21. Expensify, Inc. has a 1 year low of $0.69 and a 1 year high of $2.64.

Expensify (NASDAQ:EXFY - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $33.97 million during the quarter, compared to the consensus estimate of $34.25 million.

Expensify News Roundup

Here are the key news stories impacting Expensify this week:

• Positive Sentiment: Expensify announced preliminary results of its tender offer, expecting to buy back about 6.14 million shares at $1.20 each, reducing Class A shares outstanding by roughly 6.9%. Expensify, Inc. Announces Preliminary Results of Tender Offer
• Neutral Sentiment: Several directors and executives disclosed stock sales, but the company said the transactions were made to cover tax withholding obligations tied to vesting equity awards, which is generally considered routine rather than a direct negative signal.
• Negative Sentiment: CEO David Michael Barrett, CFO Ryan Schaffer, and directors Jason Fahr Mills, Daniel Vidal, and Divo Carlos Eduardo Alvarez each reported share sales across March 17, March 24, and March 30 filings, which can create some overhang because insider selling is often viewed cautiously by investors.

Analyst Ratings Changes

EXFY has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Expensify in a research report on Friday, May 1st. Wall Street Zen upgraded Expensify from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Expensify currently has a consensus rating of "Reduce" and an average target price of $2.50.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Expensify by 4.5% during the third quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company's stock valued at $8,406,000 after acquiring an additional 197,702 shares in the last quarter. Marshall Wace LLP raised its holdings in Expensify by 5.7% in the fourth quarter. Marshall Wace LLP now owns 1,436,707 shares of the company's stock worth $2,169,000 after purchasing an additional 76,833 shares in the last quarter. Millennium Management LLC raised 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 worth $4,276,000 after purchasing an additional 714,244 shares in the last quarter. Geode Capital Management LLC raised its holdings in Expensify by 134.2% in the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company's stock worth $3,435,000 after purchasing an additional 759,982 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Expensify by 6.7% in the first quarter. Renaissance Technologies LLC now owns 725,000 shares of the company's stock worth $631,000 after purchasing an additional 45,400 shares in the last quarter. Institutional investors own 68.42% of the company's stock.

Expensify Company Profile

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.

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