Informed Momentum Co LLC Invests $676,000 in Expensify, Inc. (NASDAQ:EXFY)

Key Points

• Informed Momentum Co LLC purchased 222,460 shares of Expensify, Inc. for approximately $676,000, making up 0.28% of the company's stock.
• Shares of Expensify, Inc. (NASDAQ:EXFY) recently traded at $1.80, having a 12-month low of $1.60 and a high of $4.13, with a market cap of $144.99 million.
• Analysts have reduced their target price for Expensify, with BMO Capital Markets lowering it from $3.00 to $2.50, indicating a shift in outlook for the stock.

Informed Momentum Co LLC bought a new stake in Expensify, Inc. (NASDAQ:EXFY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 222,460 shares of the company's stock, valued at approximately $676,000. Informed Momentum Co LLC owned 0.28% of Expensify at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC acquired a new stake in shares of Expensify during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC raised its position in shares of 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 period. Alpine Global Management LLC acquired a new stake in shares of Expensify during the fourth quarter worth about $40,000. Virtu Financial LLC acquired a new stake in shares of Expensify during the first quarter worth about $41,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Expensify during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 68.42% of the company's stock.

Expensify Price Performance

NASDAQ:EXFY remained flat at $1.80 during mid-day trading on Friday. The company had a trading volume of 517,959 shares, compared to its average volume of 740,971. The stock has a market cap of $144.99 million, a PE ratio of -11.25 and a beta of 1.72. The stock's fifty day moving average price is $2.23 and its 200-day moving average price is $2.75. Expensify, Inc. has a 1-year low of $1.60 and a 1-year high of $4.13.

Insiders Place Their Bets

In other Expensify news, CEO David Michael Barrett sold 30,000 shares of Expensify stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1.94, for a total value of $58,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,498,480 shares of the company's stock, valued at $2,907,051.20. The trade was a 1.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 83,609 shares of company stock valued at $185,706. 12.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EXFY. BMO Capital Markets dropped their target price on Expensify from $3.00 to $2.50 and set a "market perform" rating on the stock in a research report on Friday, August 8th. Lake Street Capital decreased their price target on Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded Expensify from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.