920,947 Shares in Expensify, Inc. (NASDAQ:EXFY) Bought by Topline Capital Management LLC

Topline Capital Management LLC purchased a new stake in Expensify, Inc. (NASDAQ:EXFY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 920,947 shares of the company's stock, valued at approximately $3,085,000. Expensify comprises 0.6% of Topline Capital Management LLC's holdings, making the stock its 28th largest position. Topline Capital Management LLC owned approximately 1.19% of Expensify as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP boosted its position in shares of Expensify by 72.0% in the fourth quarter. Marshall Wace LLP now owns 1,439,877 shares of the company's stock valued at $4,824,000 after acquiring an additional 602,565 shares during the period. Formula Growth Ltd. increased its stake in Expensify by 1.6% during the 4th quarter. Formula Growth Ltd. now owns 950,000 shares of the company's stock worth $3,182,000 after acquiring an additional 15,000 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Expensify by 33.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 757,001 shares of the company's stock valued at $2,536,000 after acquiring an additional 190,345 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Expensify by 814.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock valued at $2,024,000 after acquiring an additional 537,993 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Expensify by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 544,680 shares of the company's stock worth $1,825,000 after purchasing an additional 29,732 shares in the last quarter. 68.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their price objective on shares of Expensify from $3.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, February 28th.

Expensify Trading Down 2.0 %

EXFY stock traded down $0.06 during trading on Wednesday, hitting $2.92. The company had a trading volume of 50,366 shares, compared to its average volume of 635,652. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The business has a 50-day moving average of $3.11 and a 200-day moving average of $3.12. The stock has a market cap of $232.16 million, a PE ratio of -16.22 and a beta of 1.87.

Expensify announced that its board has approved a share buyback plan on Thursday, February 27th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 20.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Expensify 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 sale, the director now directly owns 232,428 shares of the company's stock, valued at $732,148.20. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Michael Barrett sold 31,781 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $3.43, for a total transaction of $109,008.83. Following the completion of the transaction, the chief executive officer now directly owns 1,947,372 shares in the company, valued at approximately $6,679,485.96. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,921 shares of company stock worth $886,854. Insiders own 17.33% 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.