Steven J. Mclaughlin Acquires 7,208 Shares of Expensify, Inc. (NASDAQ:EXFY) Stock

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin purchased 7,208 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were bought at an average cost of $1.44 per share, with a total value of $10,379.52. Following the transaction, the insider now directly owns 9,696,679 shares of the company’s stock, valued at approximately $13,963,217.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Expensify Price Performance

Shares of NASDAQ EXFY opened at $1.49 on Friday. The business has a fifty day simple moving average of $1.58 and a 200-day simple moving average of $1.80. The company has a market cap of $128.88 million, a price-to-earnings ratio of -3.10 and a beta of 1.46. Expensify, Inc. has a 12 month low of $1.24 and a 12 month high of $8.25.

Expensify (NASDAQ:EXFY) last released its earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same quarter in the previous year, the company earned ($0.07) EPS. Expensify’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Expensify, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC boosted its position in Expensify by 63.9% during the fourth quarter. SVB Wealth LLC now owns 3,359,037 shares of the company’s stock valued at $8,297,000 after purchasing an additional 1,309,037 shares during the last quarter. Walleye Capital LLC lifted its stake in Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Expensify by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after purchasing an additional 476,687 shares during the last quarter. Palogic Value Management L.P. increased its stake in shares of Expensify by 33.3% during 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. Finally, Federated Hermes Inc. raised its holdings in shares of Expensify by 57,044.0% during the 4th quarter. Federated Hermes Inc. now owns 161,146 shares of the company’s stock valued at $398,000 after purchasing an additional 160,864 shares in the last quarter. Institutional investors and hedge funds own 68.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup decreased their target price on Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Morgan Stanley raised shares of Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, JMP Securities restated a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.20.

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.