Expensify, Inc. (NASDAQ:EXFY) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Expensify, Inc. (NASDAQ:EXFY) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 316,976 shares of the company’s stock after acquiring an additional 8,911 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Expensify were worth $1,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Expensify during the 4th quarter worth approximately $39,000. R Squared Ltd bought a new position in Expensify during the 4th quarter worth $46,000. Dynamic Technology Lab Private Ltd increased its position in 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 period. Connor Clark & Lunn Investment Management Ltd. lifted 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 valued at $130,000 after buying an additional 28,731 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Expensify by 29.6% during the third quarter. XTX Topco Ltd now owns 68,789 shares of the company’s stock valued at $135,000 after acquiring an additional 15,730 shares during the period. 68.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EXFY shares. Citigroup increased their price objective on shares of Expensify from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, February 28th.

Expensify Stock Performance

Shares of EXFY opened at $3.11 on Monday. Expensify, Inc. has a one year low of $1.24 and a one year high of $4.13. The stock’s fifty day moving average is $3.51 and its 200-day moving average is $3.01. The firm has a market capitalization of $247.27 million, a price-to-earnings ratio of -17.28 and a beta of 1.83.

Expensify announced that its Board of Directors has approved a stock buyback program on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to buy up to 20.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Expensify

In other news, CEO David Michael Barrett sold 16,715 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $3.27, for a total value of $54,658.05. Following the completion of the sale, the chief executive officer now directly owns 2,072,233 shares of the company’s stock, valued at approximately $6,776,201.91. This represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 260,133 shares of company stock worth $889,951 in the last 90 days. Corporate insiders own 17.33% of the company’s stock.

Expensify 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.