Expensify, Inc. (NASDAQ:EXFY) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in shares of Expensify, Inc. (NASDAQ:EXFY - Free Report) by 27.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 965,200 shares of the company's stock after selling 363,041 shares during the period. Renaissance Technologies LLC owned approximately 1.25% of Expensify worth $3,233,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Expensify by 814.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock worth $2,024,000 after buying an additional 537,993 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Expensify during the fourth quarter valued at approximately $691,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Expensify by 33.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 757,001 shares of the company's stock valued at $2,536,000 after purchasing an additional 190,345 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Expensify during the fourth quarter valued at approximately $293,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Expensify during the fourth quarter valued at approximately $195,000. Institutional investors own 68.42% of the company's stock.

Expensify Stock Performance

NASDAQ:EXFY traded up $0.01 during trading hours on Tuesday, reaching $2.94. The stock had a trading volume of 25,496 shares, compared to its average volume of 643,081. Expensify, Inc. has a 52 week low of $1.24 and a 52 week high of $4.13. The company has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $3.12. The stock has a market capitalization of $233.35 million, a PE ratio of -16.30 and a beta of 1.87.

Expensify announced that its Board of Directors has approved a stock buyback program on Thursday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 20.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Expensify news, Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction dated Friday, March 28th. The stock was 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 approximately $732,148.20. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Michael Barrett sold 45,643 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the completion of the sale, the chief executive officer now owns 2,026,590 shares of the company's stock, valued at $7,457,851.20. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,921 shares of company stock valued at $886,854 in the last quarter. 17.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price objective on Expensify from $3.00 to $5.00 and gave the company a "buy" rating in a research report on Friday, February 28th.

About Expensify

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.