Expensify (NASDAQ:EXFY) Cut to “Market Perform” at JMP Securities

JMP Securities lowered shares of Expensify (NASDAQ:EXFY) from an outperform rating to a market perform rating in a report released on Monday, MarketBeat reports.

Expensify Trading Down 2.1 %

Shares of NASDAQ EXFY opened at $3.27 on Monday. Expensify has a one year low of $1.24 and a one year high of $3.47. The business has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $1.97. The firm has a market capitalization of $252.31 million, a price-to-earnings ratio of -18.17 and a beta of 1.51.

Insider Transactions at Expensify

In other news, CEO David Michael Barrett sold 15,454 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,920,908.29. This represents a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Anuradha Muralidharan sold 20,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $2.24, for a total transaction of $44,800.00. Following the sale, the chief operating officer now owns 38,610 shares of the company’s stock, valued at $86,486.40. This trade represents a 34.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 185,607 shares of company stock valued at $485,361. Company insiders own 17.33% of the company’s stock.

Institutional Trading of Expensify

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock valued at $6,158,000 after acquiring an additional 476,687 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Expensify in the first quarter worth $65,000. Wealthspire Advisors LLC boosted its stake in Expensify by 40.7% in the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after purchasing an additional 19,157 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Expensify during the second quarter worth $53,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Expensify in the second quarter valued at $86,000. 68.42% of the stock is owned by institutional investors.

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.