Two Sigma Advisers LP Purchases 124,800 Shares of Expensify, Inc. (NASDAQ:EXFY)

Two Sigma Advisers LP boosted its holdings in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,800 shares of the company's stock after buying an additional 124,800 shares during the period. Two Sigma Advisers LP owned about 0.79% of Expensify worth $2,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mariner LLC bought a new position in shares of Expensify during the 4th quarter worth about $34,000. Tower Research Capital LLC TRC raised its position in Expensify by 1,194.4% in 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 in the last quarter. SG Americas Securities LLC acquired a new position in Expensify in the fourth quarter worth about $39,000. Alpine Global Management LLC bought a new position in Expensify during the fourth quarter worth about $40,000. Finally, R Squared Ltd acquired a new stake in Expensify during the fourth quarter valued at approximately $46,000. Institutional investors own 68.42% of the company's stock.

Expensify Stock Down 2.2%

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

Expensify announced that its board has approved a stock buyback plan 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 plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EXFY shares. Lake Street Capital lowered their price objective on Expensify from $5.00 to $4.50 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded Expensify from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd.

Insider Activity

In related news, Director Daniel Vidal sold 9,000 shares of the company'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 transaction, the director now owns 232,428 shares in the company, valued at $732,148.20. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Michael Barrett sold 27,331 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $3.36, for a total transaction of $91,832.16. Following the sale, the chief executive officer now directly owns 1,889,948 shares in the company, valued at approximately $6,350,225.28. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 233,497 shares of company stock worth $680,378. Insiders own 12.27% of the company's stock.

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.