Expensify, Inc. $EXFY Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Expensify, Inc. by 53.4% in Q1, acquiring an additional 322,581 shares to hold a total of 926,669 shares worth approximately $2.82 million.
• Shares of Expensify remained flat at $1.80 with a market cap of $144.99 million and a price-to-earnings ratio of -11.25.
• Recent analyst ratings have turned cautious, with Lake Street Capital and BMO Capital Markets lowering their price targets, resulting in a consensus rating of "Hold" for the stock.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 53.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 926,669 shares of the company's stock after purchasing an additional 322,581 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.15% of Expensify worth $2,817,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EXFY. Mariner LLC purchased a new stake in shares of Expensify in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC boosted its holdings 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 valued at $36,000 after purchasing an additional 9,997 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Expensify in the fourth quarter valued at approximately $40,000. Boothbay Fund Management LLC purchased a new stake in shares of Expensify in the fourth quarter valued at approximately $48,000. Finally, R Squared Ltd boosted its holdings in shares of Expensify by 38.2% in the first quarter. R Squared Ltd now owns 18,790 shares of the company's stock valued at $57,000 after purchasing an additional 5,190 shares during the period. Hedge funds and other institutional investors own 68.42% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EXFY shares. Wall Street Zen upgraded Expensify from a "hold" rating to a "buy" rating in a report on Tuesday. Lake Street Capital lowered their price target on Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, BMO Capital Markets lowered their price target on Expensify from $3.00 to $2.50 and set a "market perform" rating for the company in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $4.00.

Expensify Stock Performance

Shares of NASDAQ EXFY traded down $0.0150 during mid-day trading on Tuesday, hitting $1.7950. The stock had a trading volume of 128,017 shares, compared to its average volume of 552,040. The company has a 50 day moving average of $2.21 and a two-hundred day moving average of $2.73. The firm has a market cap of $144.59 million, a PE ratio of -11.22 and a beta of 1.72. Expensify, Inc. has a twelve month low of $1.6001 and a twelve month high of $4.13.

Insiders Place Their Bets

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1.94, for a total transaction of $58,200.00. Following the sale, the chief executive officer directly owned 1,498,480 shares of the company's stock, valued at approximately $2,907,051.20. This trade represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 83,609 shares of company stock worth $185,706. 17.33% of the stock is currently owned by company insiders.

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.