Expensify, Inc. $EXFY Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Expensify, Inc. by 64.8%, owning approximately 1.76% of the company with shares valued at $4.31 million after purchasing an additional 557,533 shares.
• Expensify's stock is currently trading at $1.92, with a market capitalization of $154.66 million and a price-to-earnings ratio of -12.00.
• Recent analyst ratings show a mixed sentiment on Expensify, with two analysts rating it as a "Buy" and two as a "Hold," alongside a dropped price target from $3.00 to $2.50.

Acadian Asset Management LLC raised its stake in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 64.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,418,512 shares of the company's stock after purchasing an additional 557,533 shares during the period. Acadian Asset Management LLC owned 1.76% of Expensify worth $4,308,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Expensify by 15.8% in the fourth quarter. Northern Trust Corp now owns 107,305 shares of the company's stock valued at $359,000 after purchasing an additional 14,676 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Expensify during the first quarter worth approximately $159,000. BNP Paribas Financial Markets purchased a new position in shares of Expensify during the fourth quarter worth approximately $667,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Expensify during the fourth quarter worth approximately $402,000. Finally, Bank of America Corp DE grew its position in shares of Expensify by 42.4% during the fourth quarter. Bank of America Corp DE now owns 215,251 shares of the company's stock worth $721,000 after acquiring an additional 64,088 shares during the last quarter. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Expensify

In related news, COO Anuradha Muralidharan sold 25,245 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $1.94, for a total transaction of $48,975.30. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1.92, for a total value of $57,600.00. Following the sale, the chief executive officer directly owned 1,468,480 shares of the company's stock, valued at approximately $2,819,481.60. This represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,443 shares of company stock valued at $268,066. Corporate insiders own 12.27% of the company's stock.

Expensify Stock Down 2.0%

Shares of NASDAQ EXFY traded down $0.04 during mid-day trading on Friday, hitting $1.95. 1,599,528 shares of the company were exchanged, compared to its average volume of 445,670. The stock has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.45. Expensify, Inc. has a 1-year low of $1.60 and a 1-year high of $4.13. The firm has a market cap of $157.07 million, a price-to-earnings ratio of -12.19 and a beta of 1.72.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EXFY. BMO Capital Markets lowered their target price on shares of Expensify from $3.00 to $2.50 and set a "market perform" rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Expensify from a "hold" rating to a "buy" rating in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4.00.

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.