🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Expensify CEO sells over $74k in company stock

Published 13/04/2024, 03:00
EXFY
-

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett recently sold a notable amount of company stock, transactions that were filed with the Securities and Exchange Commission. Over a span of three days, Barrett sold a total of 49,483 shares of Expensify's Class A Common Stock for a sum exceeding $74,000.

The sales occurred on April 10, 11, and 12, with the prices per share ranging from $1.47 to $1.56. Specifically, on April 10, Barrett sold 15,903 shares at an average price of $1.56. The following day, 16,740 shares were sold at an average price of $1.48, and on April 12, another 16,840 shares were sold at an average price of $1.47.

These transactions were conducted under a prearranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a time when they are not in possession of nonpublic information. This plan was adopted by Barrett on December 15, 2023.

Following the sales, Barrett's indirect ownership through Barrett Trust LLC, which is managed by him and controlled by the Barrett Family Trust, stands at 1,182,964 shares of Class A Common Stock. Barrett Trust LLC's investment and voting decisions are made by its manager, Barrett, who also serves as trustee for the Barrett Family Trust.

Investors often monitor insider transactions as they can provide insights into an executive's confidence in the company's future prospects. The sales by Barrett represent a significant transaction by the CEO of Expensify, a prepackaged software services company headquartered in Portland, Oregon.

InvestingPro Insights

As investors evaluate the recent stock sales by Expensify's CEO, it's valuable to consider the company's financial health and market performance. According to InvestingPro data, Expensify holds a market capitalization of $125.25 million, reflecting its valuation within the industry. Despite facing a downward trend in the market with a year-to-date price total return of -37.25%, the company's gross profit margin remains strong at 55.61% for the last twelve months as of Q4 2023. This suggests that while the stock price has been under pressure, the company maintains a solid gross profitability level.

Two notable InvestingPro Tips for Expensify include the company's ability to manage its liquidity effectively, as it holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. This financial stability could be a reassuring factor for investors considering the recent insider selling activity. Additionally, analysts predict that Expensify will become profitable this year, which could potentially signal a turnaround for the company's financial performance.

It's also worth noting that Expensify's stock is trading near its 52-week low, with the price at the previous close standing at $1.47. For investors looking for additional insights and tips on Expensify, there are 9 more InvestingPro Tips available, which can be accessed with the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.