Palogic Value Management L.P. Sells 324,194 Shares of Expensify, Inc. (NASDAQ:EXFY)

Palogic Value Management L.P. lowered its stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 550,806 shares of the company's stock after selling 324,194 shares during the quarter. Palogic Value Management L.P. owned 0.69% of Expensify worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in EXFY. JPMorgan Chase & Co. raised its position in shares of Expensify by 33.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 160,002 shares of the company's stock valued at $314,000 after buying an additional 40,141 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Expensify during the 4th quarter valued at $39,000. Exchange Traded Concepts LLC purchased a new stake in shares of Expensify during the 4th quarter valued at $691,000. R Squared Ltd purchased a new stake in shares of Expensify during the 4th quarter valued at $46,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Expensify during the 4th quarter valued at $174,000. Hedge funds and other institutional investors own 68.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on EXFY shares. Wall Street Zen upgraded shares of Expensify from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Lake Street Capital decreased their target price on shares of Expensify from $5.00 to $4.50 and set a "buy" rating on the stock in a research report on Friday, May 9th.

Expensify Stock Performance

NASDAQ:EXFY traded down $0.05 during trading hours on Friday, reaching $2.20. The company's stock had a trading volume of 567,951 shares, compared to its average volume of 644,589. The firm has a market capitalization of $176.83 million, a price-to-earnings ratio of -12.22 and a beta of 1.86. The firm has a 50-day simple moving average of $2.69 and a 200-day simple moving average of $3.20. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13.

Expensify announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 20.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Expensify

In other Expensify news, CEO David Michael Barrett sold 37,001 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $3.27, for a total value of $120,993.27. Following the transaction, the chief executive officer now owns 1,808,231 shares in the company, valued at approximately $5,912,915.37. The trade was a 2.01% decrease in their ownership of the stock. The transaction 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 the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $3.15, for a total transaction of $28,350.00. Following the completion of 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 quarter, 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.