Expensify, Inc. (NASDAQ:EXFY) Holdings Decreased by Palogic Value Management L.P.

Palogic Value Management L.P. lessened its holdings in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 37.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550,806 shares of the company's stock after selling 324,194 shares during the period. Palogic Value Management L.P. owned approximately 0.69% of Expensify worth $1,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mariner LLC purchased a new stake in shares of Expensify in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 9,997 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Expensify in the fourth quarter valued at $39,000. Alpine Global Management LLC purchased a new position in Expensify during the fourth quarter worth about $40,000. Finally, R Squared Ltd purchased a new position in Expensify during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 68.42% of the company's stock.

Expensify Stock Performance

Shares of NASDAQ:EXFY traded down $0.05 during mid-day trading on Friday, hitting $2.20. 567,951 shares of the company traded hands, compared to its average volume of 644,642. The firm has a market cap of $176.83 million, a P/E ratio of -12.22 and a beta of 1.86. Expensify, Inc. has a 52-week low of $1.24 and a 52-week high of $4.13. The firm's 50 day simple moving average is $2.69 and its 200 day simple moving average is $3.20.

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

Wall Street Analyst Weigh In

EXFY has been the topic of several recent analyst reports. Lake Street Capital reduced their target price on Expensify from $5.00 to $4.50 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen upgraded Expensify from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd.

Insider Activity at Expensify

In other news, CEO David Michael Barrett sold 27,331 shares of Expensify stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $3.36, for a total value of $91,832.16. Following the completion of the transaction, the chief executive officer now owns 1,889,948 shares in the company, valued at approximately $6,350,225.28. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction that occurred 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 completion of the transaction, the director now owns 232,428 shares of the company's stock, valued at approximately $732,148.20. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 233,497 shares of company stock worth $680,378. 12.27% of the stock is currently owned by company 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.