Expensify, Inc. (NASDAQ:EXFY) Sees Large Decline in Short Interest

Expensify, Inc. (NASDAQ:EXFY) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 453,800 shares, a decline of 8.9% from the September 30th total of 498,300 shares. Based on an average daily trading volume, of 532,600 shares, the short-interest ratio is presently 0.9 days. Currently, 0.9% of the company’s stock are sold short.

Insider Activity at Expensify

In related news, CEO David Michael Barrett sold 12,801 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $1.98, for a total value of $25,345.98. Following the completion of the sale, the chief executive officer now directly owns 3,235,904 shares of the company’s stock, valued at approximately $6,407,089.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO David Michael Barrett sold 12,801 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $1.98, for a total value of $25,345.98. Following the completion of the transaction, the chief executive officer now directly owns 3,235,904 shares of the company’s stock, valued at approximately $6,407,089.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anuradha Muralidharan sold 20,000 shares of Expensify stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $2.35, for a total value of $47,000.00. Following the sale, the chief operating officer now owns 40,224 shares of the company’s stock, valued at approximately $94,526.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 771,126 shares of company stock valued at $1,768,625 in the last three months. Corporate insiders own 17.33% of the company’s stock.

Institutional Investors Weigh In On Expensify

Several hedge funds and other institutional investors have recently made changes to their positions in EXFY. Marshall Wace LLP bought a new stake in shares of Expensify during the 2nd quarter valued at $53,000. Quadrature Capital Ltd acquired a new position in shares of Expensify in the 1st quarter valued at $65,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Expensify in the 2nd quarter valued at about $86,000. Wealthspire Advisors LLC increased its position in Expensify by 40.7% during the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after purchasing an additional 19,157 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock valued at $557,000 after buying an additional 129,689 shares in the last quarter. Hedge funds and other institutional investors own 68.42% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities upgraded shares of Expensify from a “market perform” rating to an “outperform” rating and set a $2.50 price objective for the company in a report on Friday, August 9th.

Expensify Stock Performance

Shares of Expensify stock traded down $0.02 during trading on Friday, hitting $1.87. The company’s stock had a trading volume of 359,473 shares, compared to its average volume of 712,646. Expensify has a 52 week low of $1.24 and a 52 week high of $2.92. The company has a market capitalization of $143.69 million, a PE ratio of -5.07 and a beta of 1.52. The company has a fifty day simple moving average of $2.07 and a two-hundred day simple moving average of $1.84.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Expensify had a negative return on equity of 29.82% and a negative net margin of 22.41%. The company had revenue of $33.29 million during the quarter, compared to analysts’ expectations of $35.69 million.

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.