Expensify Target of Unusually High Options Trading (NASDAQ:EXFY)

Expensify, Inc. (NASDAQ:EXFY) was the target of some unusual options trading activity on Tuesday. Traders purchased 4,361 call options on the stock. This is an increase of 9,591% compared to the average volume of 45 call options.

Expensify Price Performance

Shares of EXFY opened at $1.91 on Thursday. Expensify has a 1-year low of $1.24 and a 1-year high of $8.25. The stock has a market cap of $165.20 million, a PE ratio of -3.98 and a beta of 1.47. The firm has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $1.76.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.12). Expensify had a negative net margin of 27.46% and a negative return on equity of 39.36%. The business had revenue of $33.50 million during the quarter, compared to analysts’ expectations of $35.56 million. During the same period in the previous year, the business posted ($0.07) EPS. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, sell-side analysts expect that Expensify will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EXFY shares. Morgan Stanley upgraded shares of Expensify from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, May 28th. Citigroup cut their price objective on shares of Expensify from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Finally, JMP Securities restated a “market perform” rating on shares of Expensify in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.20.

Insider Buying and Selling at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin bought 135,158 shares of Expensify stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the transaction, the insider now directly owns 8,989,644 shares of the company’s stock, valued at $13,484,466. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Expensify news, major shareholder Steven J. Mclaughlin bought 135,158 shares of Expensify stock in a transaction dated Wednesday, April 17th. The stock was acquired at an average cost of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the transaction, the insider now directly owns 8,989,644 shares of the company’s stock, valued at $13,484,466. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Steven J. Mclaughlin bought 248,712 shares of Expensify stock in a transaction dated Monday, April 15th. The stock was acquired at an average price of $1.43 per share, with a total value of $355,658.16. Following the completion of the transaction, the insider now directly owns 8,778,407 shares of the company’s stock, valued at $12,553,122.01. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,058,759 shares of company stock valued at $1,585,075 and have sold 668,728 shares valued at $1,068,296. Insiders own 17.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in Expensify in the first quarter worth approximately $65,000. Acadian Asset Management LLC lifted its stake in Expensify by 74.4% in the first quarter. Acadian Asset Management LLC now owns 303,892 shares of the company’s stock worth $557,000 after acquiring an additional 129,689 shares during the last quarter. Vanguard Group Inc. lifted its stake in Expensify by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,346,715 shares of the company’s stock worth $6,158,000 after acquiring an additional 476,687 shares during the last quarter. Palogic Value Management L.P. lifted its stake in Expensify by 33.3% in the fourth quarter. Palogic Value Management L.P. now owns 800,000 shares of the company’s stock worth $1,976,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Azora Capital LP acquired a new stake in Expensify during the fourth quarter worth approximately $61,000. 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.