Expensify, Inc. $EXFY Shares Sold by Palogic Value Management L.P.

Key Points

• Palogic Value Management L.P. reduced its holdings in Expensify, Inc. by 26.6% in Q1, now owning about 0.50% of the company, totaling $1,230,000 in value.
• Several institutional investors, including Tower Research Capital and Victory Capital Management, have recently increased or established positions in Expensify, leading to a total of 68.42% of the stock being owned by institutional entities.
• Wall Street analysts have a mixed outlook on Expensify, with price targets ranging from $2.50 to $4.00 and ratings varying from "buy" to "hold," indicating a current average rating of "Moderate Buy."

Palogic Value Management L.P. reduced its holdings in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 26.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,485 shares of the company's stock after selling 146,321 shares during the quarter. Palogic Value Management L.P. owned about 0.50% of Expensify worth $1,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EXFY. Tower Research Capital LLC TRC raised its holdings in Expensify by 1,194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,834 shares of the company's stock worth $36,000 after purchasing an additional 9,997 shares during the last quarter. Alpine Global Management LLC acquired a new position in Expensify during the fourth quarter worth $40,000. Virtu Financial LLC acquired a new position in Expensify during the first quarter worth $41,000. R Squared Ltd raised its holdings in Expensify by 38.2% during the first quarter. R Squared Ltd now owns 18,790 shares of the company's stock worth $57,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Expensify during the first quarter worth $90,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EXFY has been the subject of several research reports. BMO Capital Markets reduced their price objective on Expensify from $3.00 to $2.50 and set a "market perform" rating for the company in a report on Friday, August 8th. Wall Street Zen raised Expensify from a "hold" rating to a "buy" rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.00.

Expensify Stock Up 1.6%

NASDAQ EXFY opened at $1.95 on Tuesday. Expensify, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $4.13. The stock has a market cap of $157.07 million, a price-to-earnings ratio of -12.19 and a beta of 1.72. The business has a fifty day moving average of $2.06 and a 200-day moving average of $2.53.

Insiders Place Their Bets

In other news, CEO David Michael Barrett sold 30,000 shares of the business's 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 completion of the transaction, the chief executive officer directly owned 1,468,480 shares of the company's stock, valued at $2,819,481.60. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Anuradha Muralidharan sold 25,245 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $1.94, for a total value of $48,975.30. Following the completion of the transaction, the chief operating officer directly owned 61,041 shares of the company's stock, valued at approximately $118,419.54. This trade represents a 29.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 141,516 shares of company stock valued at $295,592. Insiders own 17.33% of the company's stock.

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.

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