Expensify, Inc. (NASDAQ:EXFY) Stake Boosted by SVB Wealth LLC

SVB Wealth LLC lifted its holdings in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 63.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,359,037 shares of the company's stock after acquiring an additional 1,309,037 shares during the period. SVB Wealth LLC owned 4.85% of Expensify worth $8,297,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in shares of Expensify by 63.5% in the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company's stock valued at $184,000 after purchasing an additional 21,700 shares during the last quarter. Barclays PLC boosted its holdings in shares of Expensify by 433.4% in the third quarter. Barclays PLC now owns 105,759 shares of the company's stock valued at $344,000 after acquiring an additional 85,931 shares during the period. Walleye Capital LLC grew its position in shares of Expensify by 396.1% during the third quarter. Walleye Capital LLC now owns 714,537 shares of the company's stock worth $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Expensify in the 3rd quarter valued at $134,000. Finally, Quadrature Capital Ltd purchased a new stake in Expensify in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 68.42% of the company's stock.

Expensify Stock Performance

Expensify stock traded up $0.06 during trading hours on Wednesday, reaching $1.51. 692,530 shares of the stock were exchanged, compared to its average volume of 632,053. Expensify, Inc. has a 52-week low of $1.40 and a 52-week high of $8.64. The stock has a market cap of $106.58 million, a P/E ratio of -2.96 and a beta of 1.49. The firm's 50 day moving average is $1.81 and its 200 day moving average is $2.18.

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

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on shares of Expensify from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $6.50.

Insider Transactions at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin purchased 248,712 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average cost of $1.43 per share, for a total transaction of $355,658.16. Following the completion of the purchase, the insider now directly owns 8,778,407 shares in the company, valued at $12,553,122.01. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Steven J. Mclaughlin purchased 248,712 shares of the business's stock in a transaction dated Monday, April 15th. The stock was acquired at an average price of $1.43 per share, for a total transaction of $355,658.16. Following the acquisition, the insider now directly owns 8,778,407 shares of the company's stock, valued at approximately $12,553,122.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Steven J. Mclaughlin acquired 41,456 shares of Expensify stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average price of $1.77 per share, with a total value of $73,377.12. Following the purchase, the insider now directly owns 8,346,754 shares of the company's stock, valued at $14,773,754.58. The disclosure for this purchase can be found here. In the last three months, insiders acquired 669,185 shares of company stock valued at $1,065,005 and sold 590,463 shares valued at $1,072,912. Company insiders own 20.32% 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.