Insider Selling: Expensify, Inc. (NASDAQ:EXFY) Director Sells $28,350.00 in Stock

Expensify, Inc. (NASDAQ:EXFY) Director Daniel Vidal sold 9,000 shares of Expensify stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $3.15, for a total value of $28,350.00. Following the completion of the transaction, the director now owns 232,428 shares of the company’s stock, valued at approximately $732,148.20. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Expensify Stock Performance

Shares of EXFY stock opened at $3.00 on Thursday. Expensify, Inc. has a 1 year low of $1.24 and a 1 year high of $4.13. The firm has a market capitalization of $238.52 million, a PE ratio of -16.67 and a beta of 1.83. The stock has a fifty day moving average of $3.49 and a two-hundred day moving average of $3.01.

Expensify declared that its Board of Directors has initiated a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 20.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Expensify

Several large investors have recently bought and sold shares of EXFY. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock valued at $130,000 after acquiring an additional 28,731 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Expensify by 25.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 308,065 shares of the company’s stock valued at $604,000 after purchasing an additional 63,052 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after purchasing an additional 22,504 shares during the period. Walleye Capital LLC raised its stake in shares of Expensify by 42.1% in the 3rd quarter. Walleye Capital LLC now owns 603,506 shares of the company’s stock worth $1,183,000 after buying an additional 178,911 shares in the last quarter. Finally, RBF Capital LLC lifted its holdings in shares of Expensify by 10.9% in the third quarter. RBF Capital LLC now owns 482,754 shares of the company’s stock valued at $946,000 after buying an additional 47,389 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EXFY shares. Lake Street Capital increased their target price on Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Citigroup increased their price objective on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th.

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.