Insider Buying: Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Buys 418,446 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY - Get Free Report) major shareholder Steven J. Mclaughlin purchased 418,446 shares of the business's stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of $1.56 per share, for a total transaction of $652,775.76. Following the acquisition, the insider now owns 9,434,282 shares in the company, valued at approximately $14,717,479.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Expensify Stock Performance

Shares of EXFY stock traded up $0.02 during mid-day trading on Wednesday, hitting $1.62. 286,623 shares of the stock traded hands, compared to its average volume of 643,940. Expensify, Inc. has a twelve month low of $1.40 and a twelve month high of $8.25. The firm has a market cap of $114.34 million, a price-to-earnings ratio of -3.18 and a beta of 1.49. The company's 50-day simple moving average is $1.80 and its 200-day simple moving average is $2.08.

Expensify (NASDAQ:EXFY - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $35.20 million for the quarter, compared to the consensus estimate of $36.85 million. Expensify had a negative return on equity of 41.91% and a negative net margin of 27.70%. The business's revenue was down 19.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. Analysts forecast that Expensify, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EXFY has been the topic of several analyst reports. Citigroup lowered their target price on Expensify from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler lowered their target price on Expensify from $3.00 to $2.00 and set a "neutral" rating on the stock in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.93.

Institutional Investors Weigh In On Expensify

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of Expensify during the 3rd quarter worth $35,000. Corton Capital Inc. acquired a new stake in shares of Expensify in the third quarter worth $37,000. FNY Investment Advisers LLC boosted its position in shares of Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company's stock worth $30,000 after buying an additional 8,500 shares during the period. SG Americas Securities LLC acquired a new stake in Expensify during the third quarter valued at $51,000. Finally, Azora Capital LP acquired a new stake in Expensify during the fourth quarter valued at $61,000. 68.42% of the stock is owned by institutional investors.

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.