Morling Financial Advisors LLC Cuts Position in Expensify, Inc. (NASDAQ:EXFY)

Morling Financial Advisors LLC decreased its holdings in Expensify, Inc. (NASDAQ:EXFY) by 11.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 149,024 shares of the company’s stock after selling 18,628 shares during the period. Morling Financial Advisors LLC’s holdings in Expensify were worth $368,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EXFY. FNY Investment Advisers LLC raised its holdings in Expensify by 212.5% in the fourth quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after buying an additional 8,500 shares during the period. Quadrature Capital Ltd purchased a new position in Expensify in the third quarter valued at approximately $35,000. Corton Capital Inc. purchased a new position in Expensify in the third quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new position in Expensify in the third quarter valued at approximately $51,000. Finally, Mackenzie Financial Corp purchased a new position in Expensify in the fourth quarter valued at approximately $75,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Expensify Stock Performance

Shares of EXFY stock traded up $0.10 during mid-day trading on Wednesday, reaching $1.65. 764,122 shares of the company were exchanged, compared to its average volume of 639,460. Expensify, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $8.25. The company has a market capitalization of $116.46 million, a P/E ratio of -3.24 and a beta of 1.49. The business’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $2.13.

Expensify (NASDAQ:EXFY) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $35.20 million for the quarter, compared to analyst estimates of $36.85 million. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s quarterly revenue was down 19.1% compared to the same quarter last year. On average, analysts forecast that Expensify, Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup cut their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.93.

Insider Buying and Selling

In related news, CEO David Michael Barrett sold 80,082 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $1.97, for a total transaction of $157,761.54. Following the transaction, the chief executive officer now directly owns 1,967,748 shares in the company, valued at $3,876,463.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Steven J. Mclaughlin bought 196,076 shares of the business’s stock in a transaction on Friday, January 26th. The shares were bought at an average cost of $1.76 per share, for a total transaction of $345,093.76. Following the completion of the purchase, the insider now owns 8,305,298 shares of the company’s stock, valued at approximately $14,617,324.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Michael Barrett sold 80,082 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $1.97, for a total value of $157,761.54. Following the completion of the sale, the chief executive officer now owns 1,967,748 shares in the company, valued at $3,876,463.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 804,343 shares of company stock worth $1,267,742 and have sold 621,107 shares worth $1,122,655. 20.32% of the stock is currently owned by company insiders.

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.