Walleye Capital LLC Sells 355,975 Shares of Expensify, Inc. (NASDAQ:EXFY)

Walleye Capital LLC lessened its position in Expensify, Inc. (NASDAQ:EXFY - Free Report) by 59.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 247,531 shares of the company's stock after selling 355,975 shares during the period. Walleye Capital LLC owned approximately 0.32% of Expensify worth $829,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Expensify by 814.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,088 shares of the company's stock valued at $2,024,000 after buying an additional 537,993 shares during the period. Exchange Traded Concepts LLC bought a new position in Expensify during the 4th quarter worth about $691,000. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 purchasing an additional 190,345 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Expensify in the fourth quarter valued at about $293,000. Finally, Barclays PLC boosted its position in shares of Expensify by 113.6% during the fourth quarter. Barclays PLC now owns 127,834 shares of the company's stock worth $428,000 after buying an additional 67,987 shares during the period. Institutional investors own 68.42% of the company's stock.

Insider Buying and Selling

In related 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Michael Barrett sold 22,873 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $2.84, for a total value of $64,959.32. Following the completion of the sale, the chief executive officer now owns 1,588,480 shares in the company, valued at $4,511,283.20. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,921 shares of company stock worth $886,854. Corporate insiders own 17.33% of the company's stock.

Wall Street Analyst Weigh In

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

Expensify Price Performance

EXFY stock traded up $0.09 during midday trading on Friday, hitting $2.98. The company's stock had a trading volume of 450,685 shares, compared to its average volume of 646,957. The company's fifty day moving average price is $3.13 and its 200 day moving average price is $3.11. Expensify, Inc. has a twelve month low of $1.24 and a twelve month high of $4.13. The stock has a market capitalization of $236.93 million, a P/E ratio of -16.55 and a beta of 1.87.

Expensify announced that its board has authorized a share repurchase plan on Thursday, February 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 20.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Expensify 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.