Expensify, Inc. (NASDAQ:EXFY) Holdings Trimmed by Millennium Management LLC

Millennium Management LLC cut its stake in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 52.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,232 shares of the company's stock after selling 752,625 shares during the period. Millennium Management LLC owned 0.90% of Expensify worth $2,319,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EXFY. SG Americas Securities LLC acquired a new stake in Expensify in the fourth quarter worth $39,000. R Squared Ltd acquired a new stake in Expensify in the fourth quarter worth $46,000. Bank of New York Mellon Corp acquired a new stake in Expensify in the fourth quarter worth $174,000. Bailard Inc. acquired a new stake in Expensify in the fourth quarter worth $146,000. Finally, Charles Schwab Investment Management Inc. increased its position in Expensify by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 316,976 shares of the company's stock worth $1,062,000 after buying an additional 8,911 shares during the period. 68.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen raised Expensify from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. 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.

Expensify Stock Performance

Shares of NASDAQ:EXFY traded down $0.01 on Thursday, hitting $2.28. The company's stock had a trading volume of 277,848 shares, compared to its average volume of 643,020. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $4.13. The company has a market capitalization of $183.26 million, a price-to-earnings ratio of -12.67 and a beta of 1.69. The stock's 50-day moving average is $2.62 and its two-hundred day moving average is $3.18.

Expensify announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 20.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Expensify

In related news, CEO David Michael Barrett sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $2.35, for a total value of $70,500.00. Following the sale, the chief executive officer now directly owns 1,558,480 shares in the company, valued at $3,662,428. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the sale, the director now directly owns 232,428 shares of the company's stock, valued at approximately $732,148.20. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 236,033 shares of company stock valued at $686,008. 12.27% of the stock is currently owned by corporate 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.