Expensify Sees Unusually Large Options Volume (NASDAQ:EXFY)

Expensify, Inc. (NASDAQ:EXFYGet Free Report) was the target of unusually large options trading on Tuesday. Stock traders acquired 4,361 call options on the stock. This represents an increase of 9,591% compared to the average daily volume of 45 call options.

Expensify Stock Performance

Shares of NASDAQ EXFY opened at $2.00 on Wednesday. Expensify has a fifty-two week low of $1.24 and a fifty-two week high of $8.25. The company has a market cap of $172.98 million, a PE ratio of -4.17 and a beta of 1.47. The business has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.76.

Expensify (NASDAQ:EXFYGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.12). The company had revenue of $33.50 million for the quarter, compared to analyst estimates of $35.56 million. Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, sell-side analysts predict that Expensify will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EXFY shares. JMP Securities restated a “market perform” rating on shares of Expensify in a report on Friday, June 14th. Morgan Stanley raised Expensify from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 28th. Finally, Citigroup decreased their price target on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.20.

View Our Latest Stock Report on Expensify

Insider Transactions at Expensify

In related news, CFO Ryan Schaffer sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $2.00, for a total value of $150,000.00. Following the transaction, the chief financial officer now owns 144,635 shares of the company’s stock, valued at approximately $289,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Expensify news, CFO Ryan Schaffer sold 75,000 shares of Expensify stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $2.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 144,635 shares of the company’s stock, valued at approximately $289,270. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Michael Barrett sold 14,091 shares of Expensify stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $1.78, for a total value of $25,081.98. Following the completion of the sale, the chief executive officer now owns 892,158 shares of the company’s stock, valued at $1,588,041.24. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 935,542 shares of company stock worth $1,406,410 and sold 685,468 shares worth $1,093,071. Corporate insiders own 17.33% of the company’s stock.

Hedge Funds Weigh In On Expensify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its stake in Expensify by 212.5% during the 4th quarter. FNY Investment Advisers LLC now owns 12,500 shares of the company’s stock valued at $30,000 after purchasing an additional 8,500 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Expensify in the third quarter valued at approximately $35,000. Hsbc Holdings PLC increased its holdings in Expensify by 63.5% in the 3rd quarter. Hsbc Holdings PLC now owns 55,876 shares of the company’s stock worth $184,000 after buying an additional 21,700 shares during the period. Azora Capital LP acquired a new position in Expensify in the 4th quarter worth approximately $61,000. Finally, Mackenzie Financial Corp acquired a new stake in Expensify during the 4th quarter valued at approximately $75,000. Hedge funds and other institutional investors own 68.42% of the company’s stock.

About Expensify

(Get Free Report)

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.

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