Acadian Asset Management LLC Has $4.31 Million Stake in Expensify, Inc. $EXFY

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 boosted its stake in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 64.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 about 1.76% of Expensify worth $4,308,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Alpine Global Management LLC bought a new position in Expensify in the 4th quarter valued at about $40,000. Virtu Financial LLC bought a new position in Expensify in the 1st quarter valued at about $41,000. R Squared Ltd lifted its position in Expensify by 38.2% in the 1st quarter. R Squared Ltd now owns 18,790 shares of the company's stock valued at $57,000 after acquiring an additional 5,190 shares in the last quarter. Victory Capital Management Inc. bought a new position in Expensify in the 1st quarter valued at about $90,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Expensify in the 1st quarter valued at about $142,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Expensify Trading Down 2.0%

NASDAQ:EXFY opened at $1.92 on Monday. The stock has a market capitalization of $154.66 million, a PE ratio of -12.00 and a beta of 1.72. The firm's 50 day moving average is $2.01 and its 200 day moving average is $2.50. Expensify, Inc. has a 12 month low of $1.60 and a 12 month high of $4.13.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets dropped their price target 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 raised 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 given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $4.00.

Insider Buying and Selling

In related news, COO Anuradha Muralidharan sold 25,245 shares of Expensify stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $1.94, for a total value of $48,975.30. Following the sale, the chief operating officer owned 61,041 shares of the company's stock, valued at approximately $118,419.54. The trade was a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1.92, for a total transaction of $57,600.00. Following the completion of the sale, the chief executive officer directly owned 1,468,480 shares in the company, valued at $2,819,481.60. This trade represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,516 shares of company stock worth $295,592 in the last ninety days. 17.33% 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.

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