Expensify, Inc. (NASDAQ:EXFY) Shares Acquired by Ceera Investments LLC

Ceera Investments LLC raised its stake in shares of Expensify, Inc. (NASDAQ:EXFY) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439,330 shares of the company’s stock after acquiring an additional 4,330 shares during the period. Ceera Investments LLC owned approximately 0.57% of Expensify worth $1,472,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Expensify in the fourth quarter valued at approximately $39,000. R Squared Ltd acquired a new position in shares of Expensify in the fourth quarter valued at approximately $46,000. Bailard Inc. acquired a new position in shares of Expensify in the fourth quarter valued at approximately $146,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Expensify by 100.6% in the third 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Expensify in the fourth quarter valued at approximately $174,000. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Expensify

In other Expensify news, CEO David Michael Barrett sold 13,272 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.84, for a total value of $50,964.48. Following the completion of the sale, the chief executive officer now owns 1,207,675 shares of the company’s stock, valued at $4,637,472. This trade represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anuradha Muralidharan sold 12,320 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $3.85, for a total transaction of $47,432.00. Following the completion of the sale, the chief operating officer now directly owns 4,614 shares of the company’s stock, valued at $17,763.90. This trade represents a 72.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,680 shares of company stock valued at $881,370. Insiders own 17.33% of the company’s stock.

Expensify Stock Down 5.3 %

NASDAQ:EXFY opened at $3.55 on Friday. Expensify, Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $4.13. The stock has a market cap of $282.25 million, a PE ratio of -19.72 and a beta of 1.83. The firm’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $2.90.

Expensify announced that its board has authorized a share repurchase program on Thursday, February 27th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 20.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have commented on EXFY. Lake Street Capital boosted their price target on shares of Expensify from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Citigroup boosted their price target on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, JMP Securities cut shares of Expensify from an “outperform” rating to a “market perform” rating in a report on Monday, November 25th.

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.