Expensify, Inc. (NASDAQ:EXFY) Sees Significant Decrease in Short Interest

Expensify, Inc. (NASDAQ:EXFY) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 462,300 shares, a decrease of 6.4% from the August 31st total of 493,800 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 0.4 days.

Expensify Trading Down 2.6 %

Shares of NASDAQ:EXFY opened at $1.91 on Wednesday. The firm has a market capitalization of $165.20 million, a PE ratio of -3.98 and a beta of 1.54. Expensify has a 1-year low of $1.24 and a 1-year high of $3.42. The business’s 50 day moving average is $2.15 and its 200-day moving average is $1.82.

Expensify (NASDAQ:EXFY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Expensify had a negative return on equity of 29.82% and a negative net margin of 22.41%. The firm had revenue of $33.29 million during the quarter, compared to the consensus estimate of $35.69 million.

Insider Transactions at Expensify

In related news, major shareholder Steven J. Mclaughlin purchased 123,217 shares of the stock in a transaction on Monday, July 8th. The shares were bought at an average price of $1.45 per share, for a total transaction of $178,664.65. Following the completion of the acquisition, the insider now directly owns 9,939,949 shares in the company, valued at approximately $14,412,926.05. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Anuradha Muralidharan sold 20,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $2.35, for a total transaction of $47,000.00. Following the completion of the transaction, the chief operating officer now owns 40,224 shares of the company’s stock, valued at approximately $94,526.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Steven J. Mclaughlin bought 123,217 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were acquired at an average price of $1.45 per share, with a total value of $178,664.65. Following the purchase, the insider now owns 9,939,949 shares in the company, valued at $14,412,926.05. The disclosure for this purchase can be found here. In the last quarter, insiders sold 1,017,234 shares of company stock worth $2,237,050. 17.33% of the stock is owned by corporate insiders.

Institutional Trading of Expensify

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after acquiring an additional 476,687 shares during the period. Palogic Value Management L.P. grew its holdings in shares of Expensify by 33.3% in the 4th quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after purchasing an additional 200,000 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Expensify by 74.4% in the 1st quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after purchasing an additional 129,689 shares during the last quarter. CastleKnight Management LP increased its position in shares of Expensify by 79.5% during the 4th quarter. CastleKnight Management LP now owns 131,200 shares of the company’s stock worth $324,000 after purchasing an additional 58,100 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its holdings in Expensify by 40.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock valued at $99,000 after purchasing an additional 19,157 shares during the last quarter. Institutional investors own 68.42% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities upgraded shares of Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective on the stock in a report on Friday, August 9th.

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.