SVB Wealth LLC Acquires 1,309,037 Shares of Expensify, Inc. (NASDAQ:EXFY)

SVB Wealth LLC boosted its holdings in shares of Expensify, Inc. (NASDAQ:EXFY) by 63.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,359,037 shares of the company’s stock after purchasing an additional 1,309,037 shares during the period. SVB Wealth LLC owned about 4.85% of Expensify worth $8,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Expensify by 287.3% in the second quarter. BlackRock Inc. now owns 4,116,270 shares of the company’s stock valued at $32,848,000 after acquiring an additional 3,053,582 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Expensify by 58.8% in the third quarter. Vanguard Group Inc. now owns 3,866,629 shares of the company’s stock valued at $57,536,000 after acquiring an additional 1,431,326 shares during the last quarter. State Street Corp raised its stake in shares of Expensify by 252.3% in the second quarter. State Street Corp now owns 1,118,721 shares of the company’s stock valued at $8,927,000 after acquiring an additional 801,183 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Expensify by 135.6% in the second quarter. Geode Capital Management LLC now owns 1,015,984 shares of the company’s stock valued at $8,108,000 after acquiring an additional 584,734 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in shares of Expensify by 396.1% in the third quarter. Walleye Capital LLC now owns 714,537 shares of the company’s stock valued at $2,322,000 after acquiring an additional 570,495 shares during the last quarter. Institutional investors own 68.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Michael Barrett sold 54,685 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.74, for a total value of $95,151.90. Following the completion of the transaction, the chief executive officer now owns 1,324,438 shares of the company’s stock, valued at approximately $2,304,522.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Anuradha Muralidharan sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $2.15, for a total value of $43,000.00. Following the completion of the transaction, the chief operating officer now owns 57,080 shares of the company’s stock, valued at approximately $122,722. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Michael Barrett sold 54,685 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.74, for a total transaction of $95,151.90. Following the completion of the transaction, the chief executive officer now directly owns 1,324,438 shares of the company’s stock, valued at approximately $2,304,522.12. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 420,473 shares of company stock valued at $709,347 and sold 556,698 shares valued at $1,023,461. Company insiders own 20.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on shares of Expensify from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.50.

Expensify Price Performance

Shares of Expensify stock opened at $1.45 on Wednesday. The firm has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $2.18. Expensify, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $8.64.

Expensify (NASDAQ:EXFY) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The company had revenue of $35.20 million during the quarter, compared to analyst estimates of $36.85 million. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue for the quarter was down 19.1% on a year-over-year basis. On average, analysts expect that Expensify, Inc. will post -0.19 EPS for the current year.

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.