Expensify (NASDAQ:EXFY) Lowered to Market Perform Rating by JMP Securities

Expensify (NASDAQ:EXFY) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat Ratings reports.

Expensify Trading Up 2.1 %

NASDAQ EXFY opened at $3.34 on Monday. Expensify has a 12-month low of $1.24 and a 12-month high of $3.47. The company has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $1.96. The stock has a market cap of $257.71 million, a P/E ratio of -18.50 and a beta of 1.51.

Insider Buying and Selling

In related news, CEO David Michael Barrett sold 15,454 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 $6,920,908.29. This represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anuradha Muralidharan sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $2.24, for a total transaction of $44,800.00. Following the completion of the transaction, the chief operating officer now owns 38,610 shares in the company, valued at approximately $86,486.40. This trade represents a 34.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,607 shares of company stock worth $485,361 in the last 90 days. Insiders own 17.33% of the company’s stock.

Institutional Trading of Expensify

Several large investors have recently made changes to their positions in EXFY. Marshall Wace LLP purchased a new position in shares of Expensify during the second quarter worth $53,000. Quadrature Capital Ltd purchased a new position in shares of Expensify during the 1st quarter valued at about $65,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Expensify in the 2nd quarter valued at about $86,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Expensify by 100.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 44,880 shares of the company’s stock worth $88,000 after buying an additional 22,504 shares during the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Expensify by 40.7% during the second quarter. Wealthspire Advisors LLC now owns 66,212 shares of the company’s stock worth $99,000 after acquiring an additional 19,157 shares during the period. 68.42% of the stock is owned by hedge funds and other 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.