Expensify (NASDAQ:EXFY) Downgraded by JMP Securities to “Market Perform”

Expensify (NASDAQ:EXFY) was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports.

Expensify Stock Performance

Shares of EXFY opened at $3.40 on Monday. Expensify has a 1 year low of $1.24 and a 1 year high of $3.47. The company has a market cap of $262.34 million, a price-to-earnings ratio of -18.89 and a beta of 1.51. The firm has a fifty day moving average of $2.14 and a 200-day moving average of $1.95.

Insiders Place Their Bets

In related news, CFO Ryan Schaffer sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $2.27, for a total value of $28,375.00. Following the completion of the transaction, the chief financial officer now owns 152,531 shares in the company, valued at $346,245.37. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Michael Barrett sold 15,454 shares of Expensify stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $2.91, for a total value of $44,971.14. Following the transaction, the chief executive officer now owns 2,378,319 shares in the company, valued at $6,920,908.29. This represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 831,545 shares of company stock worth $1,996,856. 17.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Expensify

Several large investors have recently made changes to their positions in EXFY. Marshall Wace LLP acquired a new stake in shares of Expensify in the second quarter worth $53,000. Quadrature Capital Ltd bought a new position in Expensify during the first quarter worth about $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Expensify in the second quarter valued at about $86,000. Dynamic Technology Lab Private Ltd increased its holdings in Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after purchasing an additional 22,504 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its holdings in shares of Expensify by 40.7% in the second 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.

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.