Expensify Sees Unusually Large Options Volume (NASDAQ:EXFY)

Expensify, Inc. (NASDAQ:EXFY) was the target of unusually large options trading on Tuesday. Stock traders purchased 4,361 call options on the company. This is an increase of 9,591% compared to the typical volume of 45 call options.

Expensify Stock Performance

NASDAQ:EXFY opened at $1.91 on Thursday. The firm has a market capitalization of $165.20 million, a price-to-earnings ratio of -3.98 and a beta of 1.47. Expensify has a 52-week low of $1.24 and a 52-week high of $8.25. The stock has a fifty day moving average of $1.58 and a 200 day moving average of $1.76.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $35.56 million. During the same period in the prior year, the business posted ($0.07) EPS. Expensify’s quarterly revenue was down 16.5% on a year-over-year basis. Equities analysts forecast that Expensify will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EXFY has been the subject of several recent research reports. Citigroup reduced their price target 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 Expensify from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Expensify in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.20.

Insiders Place Their Bets

In other news, major shareholder Steven J. Mclaughlin bought 123,217 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was acquired at an average cost of $1.45 per share, with a total value of $178,664.65. Following the completion of the transaction, the insider now directly owns 9,939,949 shares of the company’s stock, valued at approximately $14,412,926.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Steven J. Mclaughlin bought 123,217 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was acquired at an average cost of $1.45 per share, with a total value of $178,664.65. Following the completion of the transaction, the insider now directly owns 9,939,949 shares of the company’s stock, valued at approximately $14,412,926.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ryan Schaffer sold 75,000 shares of Expensify stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $2.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer now owns 144,635 shares of the company’s stock, valued at $289,270. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,058,759 shares of company stock valued at $1,585,075 and sold 668,728 shares valued at $1,068,296. Company insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

Hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Expensify by 63.5% during the third quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after purchasing an additional 21,700 shares during the last quarter. Walleye Capital LLC lifted its stake in Expensify by 396.1% during the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock worth $2,322,000 after purchasing an additional 570,495 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Expensify during the third quarter worth about $35,000. Citigroup Inc. lifted its stake in Expensify by 186.5% during the third quarter. Citigroup Inc. now owns 49,589 shares of the company’s stock worth $161,000 after purchasing an additional 32,279 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in Expensify during the fourth quarter worth about $75,000. Institutional investors own 68.42% of the company’s stock.

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.