BNP Paribas Financial Markets Buys New Stake in Expensify, Inc. (NASDAQ:EXFY)

BNP Paribas Financial Markets acquired a new stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 199,170 shares of the company's stock, valued at approximately $667,000. BNP Paribas Financial Markets owned approximately 0.26% of Expensify at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EXFY. Mariner LLC bought a new stake in shares of Expensify during the 4th quarter valued at about $34,000. Tower Research Capital LLC TRC grew its stake in shares of Expensify by 1,194.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company's stock worth $36,000 after acquiring an additional 9,997 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Expensify during the fourth quarter valued at $39,000. Alpine Global Management LLC purchased a new stake in Expensify in the fourth quarter worth about $40,000. Finally, R Squared Ltd purchased a new stake in Expensify in the fourth quarter worth about $46,000. 68.42% of the stock is owned by hedge funds and other institutional investors.

Expensify Trading Down 1.5%

Shares of NASDAQ EXFY traded down $0.04 during midday trading on Wednesday, reaching $2.24. 34,871 shares of the company were exchanged, compared to its average volume of 404,078. The stock has a market cap of $179.64 million, a P/E ratio of -12.42 and a beta of 1.86. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13. The stock has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $3.21.

Expensify declared that its Board of Directors has approved a share repurchase plan on Thursday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 20.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EXFY shares. Wall Street Zen raised Expensify from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Lake Street Capital dropped their price target on 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, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $2.35, for a total value of $70,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,558,480 shares in the company, valued at $3,662,428. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the sale, the director now directly owns 232,428 shares of the company's stock, valued at approximately $732,148.20. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,497 shares of company stock valued at $680,378 over the last three months. 12.27% of the stock is currently owned by insiders.

Expensify 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.