Expensify (NASDAQ:EXFY) Stock Rating Lowered by JMP Securities

JMP Securities cut shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat.com reports.

Expensify Trading Down 2.1 %

Shares of EXFY stock opened at $3.27 on Monday. Expensify has a 12 month low of $1.24 and a 12 month high of $3.47. The stock has a market cap of $252.31 million, a P/E ratio of -18.17 and a beta of 1.51. The company has a 50 day simple moving average of $2.20 and a two-hundred day simple moving average of $1.98.

Insider Buying and Selling at Expensify

In related news, CEO David Michael Barrett sold 15,454 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $2.91, for a total value of $44,971.14. Following the sale, the chief executive officer now owns 2,378,319 shares in the company, valued at approximately $6,920,908.29. The trade was a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ryan Schaffer sold 12,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $2.27, for a total transaction of $28,375.00. Following the sale, the chief financial officer now owns 152,531 shares in the company, valued at $346,245.37. This represents a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,607 shares of company stock valued at $485,361 over the last ninety days. 17.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Expensify

Several hedge funds and other institutional investors have recently made changes to their positions in EXFY. Quadrature Capital Ltd purchased a new position in shares of Expensify during the first quarter valued at approximately $65,000. Marshall Wace LLP bought a new stake in shares of Expensify during the 2nd quarter worth approximately $53,000. Dynamic Technology Lab Private Ltd boosted its holdings in Expensify by 100.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock valued at $88,000 after acquiring an additional 22,504 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Expensify during the 2nd quarter valued at $86,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Expensify by 76.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,095 shares of the company’s stock worth $130,000 after purchasing an additional 28,731 shares during the period. Hedge funds and other institutional investors own 68.42% of the company’s stock.

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.