Insider Selling: Expensify, Inc. (NASDAQ:EXFY) CEO Sells 14,346 Shares of Stock

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 14,346 shares of Expensify stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $1.75, for a total value of $25,105.50. Following the sale, the chief executive officer now directly owns 863,472 shares of the company’s stock, valued at $1,511,076. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

David Michael Barrett also recently made the following trade(s):

• On Wednesday, May 22nd, David Michael Barrett sold 14,680 shares of Expensify stock. The stock was sold at an average price of $1.70, for a total value of $24,956.00.
• On Monday, May 20th, David Michael Barrett sold 14,643 shares of Expensify stock. The stock was sold at an average price of $1.70, for a total transaction of $24,893.10.
• On Friday, May 17th, David Michael Barrett sold 14,805 shares of Expensify stock. The shares were sold at an average price of $1.69, for a total transaction of $25,020.45.
• On Monday, May 13th, David Michael Barrett sold 14,091 shares of Expensify stock. The stock was sold at an average price of $1.78, for a total transaction of $25,081.98.
• On Friday, May 10th, David Michael Barrett sold 14,530 shares of Expensify stock. The stock was sold at an average price of $1.73, for a total value of $25,136.90.
• On Wednesday, May 8th, David Michael Barrett sold 14,453 shares of Expensify stock. The shares were sold at an average price of $1.74, for a total transaction of $25,148.22.
• On Monday, May 6th, David Michael Barrett sold 14,510 shares of Expensify stock. The shares were sold at an average price of $1.72, for a total transaction of $24,957.20.
• On Friday, May 3rd, David Michael Barrett sold 15,180 shares of Expensify stock. The stock was sold at an average price of $1.64, for a total transaction of $24,895.20.
• On Wednesday, May 1st, David Michael Barrett sold 15,480 shares of Expensify stock. The shares were sold at an average price of $1.61, for a total transaction of $24,922.80.
• On Monday, April 29th, David Michael Barrett sold 1,500 shares of Expensify stock. The shares were sold at an average price of $1.61, for a total value of $2,415.00.

Expensify Price Performance

NASDAQ:EXFY traded down $0.02 during mid-day trading on Wednesday, reaching $1.70. 279,405 shares of the stock were exchanged, compared to its average volume of 602,298. The business has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.97. Expensify, Inc. has a 1-year low of $1.40 and a 1-year high of $8.25.

Expensify (NASDAQ:EXFY) last announced its earnings results on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative return on equity of 39.36% and a negative net margin of 27.46%. The firm had revenue of $33.50 million during the quarter, compared to analyst estimates of $35.56 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, sell-side analysts predict that Expensify, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. 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. Citigroup lowered their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.20.

Institutional Trading of Expensify

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Expensify by 15.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 220,490 shares of the company’s stock valued at $717,000 after buying an additional 29,131 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Expensify in the third quarter valued at $178,000. Barclays PLC boosted its position in shares of Expensify by 433.4% during the 3rd quarter. Barclays PLC now owns 105,759 shares of the company’s stock valued at $344,000 after acquiring an additional 85,931 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Expensify by 93.5% in the 3rd quarter. Quantbot Technologies LP now owns 47,396 shares of the company’s stock valued at $154,000 after purchasing an additional 22,897 shares during the period. Finally, Aigen Investment Management LP bought a new position in shares of Expensify during the third quarter valued at $134,000. 68.42% of the stock is owned by institutional investors.

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.