Goldman Sachs Group Inc. Has $1.47 Million Holdings in Expensify, Inc. $EXFY

Key Points

• Goldman Sachs Group Inc. has reduced its holding in Expensify, Inc. by 25.2%, now owning 484,058 shares valued at $1.47 million.
• Several institutional investors, such as Millennium Management LLC and Acadian Asset Management LLC, increased their stakes in Expensify during the same quarter.
• Wall Street analysts have mixed views on Expensify's stock; while BMO Capital Markets lowered its target price, Wall Street Zen upgraded it to a "buy" rating, resulting in an average target of $4.00.

Goldman Sachs Group Inc. reduced its stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 25.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 484,058 shares of the company's stock after selling 162,929 shares during the quarter. Goldman Sachs Group Inc. owned 0.60% of Expensify worth $1,472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of EXFY. Alpine Global Management LLC bought a new stake in Expensify in the fourth quarter valued at approximately $40,000. Virtu Financial LLC bought a new position in shares of Expensify during the first quarter worth about $41,000. R Squared Ltd grew its stake in shares of 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 buying an additional 5,190 shares during the period. Victory Capital Management Inc. purchased a new position in Expensify during the first quarter worth about $90,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Expensify during the 1st quarter valued at approximately $142,000. Institutional investors own 68.42% of the company's stock.

Analysts Set New Price Targets

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

Expensify Stock Down 2.0%

NASDAQ EXFY traded down $0.04 on Friday, reaching $1.95. The stock had a trading volume of 1,599,528 shares, compared to its average volume of 500,619. Expensify, Inc. has a 12-month low of $1.60 and a 12-month high of $4.13. The stock has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $2.43.

Insider Transactions at Expensify

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1.92, for a total value of $57,600.00. Following the sale, the chief executive officer owned 1,468,480 shares of the company's stock, valued at $2,819,481.60. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anuradha Muralidharan sold 25,245 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $118,419.54. The trade was a 29.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,443 shares of company stock worth $268,066. 17.33% of the stock is 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.