Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett recently sold a total of 47,381 shares of the company's Class A Common Stock, according to the latest SEC filings. The transactions, carried out over three separate days, resulted in proceeds exceeding $74,000 for Barrett.
On April 4, Barrett sold 15,404 shares at an average price of $1.62, with the price of shares varying from $1.59 to $1.65. The following day, 15,985 shares were sold at an average price of $1.55, within a price range of $1.52 to $1.60. Lastly, on April 8, another set of 15,992 shares were sold, also at an average price of $1.55, with individual transactions occurring between $1.52 and $1.57.
These sales were conducted under a Rule 10b5-1 trading plan, which Barrett had adopted on December 15, 2023. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading.
Following these transactions, Barrett's direct and indirect holdings in Expensify, Inc. have been adjusted, though he still retains a significant stake in the company. The sales were executed through Barrett Trust LLC, managed by Barrett himself, with the Barrett Family Trust as the controlling member.
Investors and followers of Expensify, Inc. can request detailed information about the exact number of shares sold at each price point within the stated ranges from the company or the SEC.
The stock transactions come as part of the regular financial moves by executives and are publicly reported to maintain transparency and comply with SEC regulations.
InvestingPro Insights
Expensify, Inc. (NASDAQ:EXFY) has seen significant movements in its stock value, as reflected by recent insider transactions. Here are some insights based on real-time data and InvestingPro Tips that could provide a deeper understanding of the company's financial health and stock performance:
InvestingPro Data:
- Market Cap (Adjusted): 130.37M USD
- P/E Ratio (Adjusted) for the last twelve months as of Q4 2023: -3.14
- Revenue Growth for the last twelve months as of Q4 2023: -11.1%
InvestingPro Tips:
1. Expensify holds more cash than debt on its balance sheet, which may provide some financial stability despite recent stock performance issues.
2. Analysts predict the company will be profitable this year, indicating a potential turnaround that could affect future stock valuations.
Investors considering Expensify's stock should note that the company is trading near its 52-week low and has experienced a price decline over the last year. Nonetheless, with a strong cash position and analyst predictions for future profitability, there may be opportunities for the stock to recover. For a more comprehensive analysis, including additional InvestingPro Tips, visit https://www.investing.com/pro/EXFY. There are 10 more tips available on InvestingPro that could further inform investment decisions.
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