OMERS ADMINISTRATION Corp Purchases Shares of 120,100 Expensify, Inc. (NASDAQ:EXFY)

OMERS ADMINISTRATION Corp bought a new position in Expensify, Inc. (NASDAQ:EXFY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 120,100 shares of the company's stock, valued at approximately $402,000. OMERS ADMINISTRATION Corp owned about 0.16% of Expensify as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mariner LLC bought a new stake in Expensify during the fourth quarter valued at $34,000. Tower Research Capital LLC TRC increased its stake 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 valued at $36,000 after purchasing an additional 9,997 shares during the last quarter. SG Americas Securities LLC bought a new stake in Expensify during the fourth quarter valued at $39,000. Alpine Global Management LLC bought a new stake in Expensify during the fourth quarter valued at $40,000. Finally, R Squared Ltd bought a new stake in Expensify during the fourth quarter valued at $46,000. 68.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 37,001 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $3.27, for a total value of $120,993.27. Following the sale, the chief executive officer now owns 1,808,231 shares in the company, valued at approximately $5,912,915.37. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Vidal sold 9,000 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $3.15, for a total value of $28,350.00. Following the transaction, the director now owns 232,428 shares in the company, valued at $732,148.20. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,497 shares of company stock valued at $680,378. 12.27% of the stock is currently owned by company insiders.

Expensify Stock Down 4.7%

Shares of EXFY traded down $0.11 during trading hours on Friday, reaching $2.22. The company's stock had a trading volume of 391,823 shares, compared to its average volume of 646,756. Expensify, Inc. has a 1-year low of $1.24 and a 1-year high of $4.13. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $3.22. The firm has a market cap of $178.43 million, a price-to-earnings ratio of -12.33 and a beta of 1.86.

Expensify announced that its Board of Directors has initiated a share repurchase program on Thursday, February 27th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 20.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Lake Street Capital reduced their price target on shares of Expensify from $5.00 to $4.50 and set a "buy" rating for the company in a report on Friday, May 9th. Wall Street Zen raised shares of Expensify from a "buy" rating to a "strong-buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Expensify presently has a consensus rating of "Moderate Buy" and an average target price of $4.00.

Expensify Company 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.