94,600 Shares in Expensify, Inc. (NASDAQ:EXFY) Purchased by Royce & Associates LP

Posted by on Aug 6th, 2023

Royce & Associates LP purchased a new position in Expensify, Inc. (NASDAQ:EXFY – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 94,600 shares of the company’s stock, valued at approximately $771,000. Royce & Associates LP owned approximately 0.14% of Expensify at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Expensify by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after acquiring an additional 1,123 shares in the last quarter. Royal Bank of Canada increased its stake in Expensify by 117.8% during the 3rd quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock valued at $33,000 after purchasing an additional 1,178 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Expensify by 1.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,297 shares in the last quarter. UBS Group AG bought a new stake in Expensify during the 3rd quarter valued at about $56,000. Finally, Quantbot Technologies LP bought a new stake in Expensify during the 1st quarter valued at about $86,000. 40.97% of the stock is currently owned by institutional investors.

Expensify Stock Performance

Shares of EXFY stock opened at $5.95 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $492.78 million, a PE ratio of -19.19 and a beta of 1.33. The company has a 50 day moving average price of $7.41 and a 200-day moving average price of $7.95. Expensify, Inc. has a 52 week low of $5.67 and a 52 week high of $25.39.

Expensify (NASDAQ:EXFY – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.17). The business had revenue of $40.10 million during the quarter, compared to analysts’ expectations of $43.73 million. Expensify had a negative return on equity of 26.34% and a negative net margin of 15.11%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) EPS. As a group, equities research analysts expect that Expensify, Inc. will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Openview Management, Llc sold 10,044,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $6.10, for a total value of $61,269,925.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Expensify news, CFO Ryan Schaffer sold 7,750 shares of Expensify stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $8.04, for a total transaction of $62,310.00. Following the transaction, the chief financial officer now owns 78,742 shares of the company’s stock, valued at $633,085.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Openview Management, Llc sold 10,044,250 shares of Expensify stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $6.10, for a total transaction of $61,269,925.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,372,240 shares of company stock valued at $63,481,485. 20.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Lake Street Capital reduced their price objective on shares of Expensify from $11.00 to $10.00 in a research note on Wednesday, May 10th. Citigroup reduced their price objective on shares of Expensify from $12.00 to $10.00 in a research note on Wednesday, May 10th. JMP Securities reduced their price objective on shares of Expensify from $15.00 to $12.00 in a research note on Wednesday, May 10th. BMO Capital Markets lowered shares of Expensify from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $12.00 to $8.50 in a research note on Wednesday, May 10th. Finally, Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $9.00 to $5.00 in a research note on Monday, June 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.08.

Expensify Profile

(Free Report)

Expensify, Inc provides a cloud-based expense management software platform to individuals, small businesses, and corporations 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.

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Institutional Ownership by Quarter for Expensify (NASDAQ:EXFY)

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