Expensify (NASDAQ:EXFY) Cut to Market Perform at JMP Securities

Expensify (NASDAQ:EXFY) was downgraded by equities research 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 Up 2.4 %

Shares of Expensify stock opened at $3.40 on Monday. The company has a market capitalization of $262.34 million, a price-to-earnings ratio of -18.89 and a beta of 1.51. The firm’s 50-day moving average price is $2.14 and its two-hundred day moving average price is $1.95. Expensify has a 12-month low of $1.24 and a 12-month high of $3.47.

Insider Activity at Expensify

In related news, CFO Ryan Schaffer sold 12,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $2.27, for a total transaction of $28,375.00. Following the transaction, the chief financial officer now directly owns 152,531 shares of the company’s stock, valued at $346,245.37. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Michael Barrett sold 645,938 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $2.34, for a total transaction of $1,511,494.92. Following the completion of the sale, the chief executive officer now owns 2,567,093 shares of the company’s stock, valued at $6,006,997.62. The trade was a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,545 shares of company stock valued at $1,996,856 over the last ninety days. 17.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Expensify

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new stake in Expensify in the 2nd quarter valued at about $53,000. Quadrature Capital Ltd acquired a new stake in Expensify in the first quarter valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Expensify during the second quarter valued at approximately $86,000. Dynamic Technology Lab Private Ltd grew its position in Expensify by 100.6% in 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. Finally, Wealthspire Advisors LLC increased its stake 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 in 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.