Short Interest in Expensify, Inc. (NASDAQ:EXFY) Drops By 8.9%

Expensify, Inc. (NASDAQ:EXFY) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 453,800 shares, a drop of 8.9% from the September 30th total of 498,300 shares. Based on an average daily volume of 532,600 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.9% of the shares of the company are sold short.

Expensify Stock Performance

Shares of NASDAQ:EXFY traded down $0.02 during midday trading on Friday, reaching $1.87. 366,941 shares of the company’s stock were exchanged, compared to its average volume of 712,681. The firm has a market capitalization of $143.69 million, a PE ratio of -5.05 and a beta of 1.52. The company’s 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $1.84. Expensify has a 12 month low of $1.24 and a 12 month high of $2.92.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $33.29 million for the quarter, compared to the consensus estimate of $35.69 million.

Insider Activity

In related news, COO Anuradha Muralidharan sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now owns 40,224 shares in the company, valued at $94,526.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Michael Barrett sold 11,203 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $2.28, for a total transaction of $25,542.84. Following the transaction, the chief executive officer now owns 3,224,701 shares in the company, valued at approximately $7,352,318.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anuradha Muralidharan sold 20,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $2.35, for a total transaction of $47,000.00. Following the completion of the sale, the chief operating officer now owns 40,224 shares of the company’s stock, valued at approximately $94,526.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 771,126 shares of company stock valued at $1,768,625. 17.33% of the stock is owned by insiders.

Institutional Trading of Expensify

Several institutional investors have recently bought and sold shares of EXFY. Marshall Wace LLP acquired a new position in Expensify during the second quarter worth $53,000. Quadrature Capital Ltd bought a new stake in shares of Expensify in the 1st quarter worth about $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Expensify during the 2nd quarter worth about $86,000. 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. Finally, Acadian Asset Management LLC boosted its position in Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after buying an additional 129,689 shares in the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities raised 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.