Expensify , Inc. (NASDAQ:EXFY) Chief Operating Officer Muralidharan Anuradha recently sold a significant amount of the company's stock. The company, with a market capitalization of $301 million, has seen its shares surge 136% over the past six months. According to InvestingPro analysis, the stock appears to be trading below its Fair Value. According to a recent SEC filing, Anuradha sold 29,410 shares of Class A Common Stock on December 3, 2024. The shares were sold at a weighted average price of $3.40, with individual transaction prices ranging from $3.38 to $3.44. This sale amounted to a total value of $99,994. Following the transaction, Anuradha retains 3,941 shares of Expensify stock. Technical indicators from InvestingPro suggest the stock is currently in overbought territory, with 13 additional ProTips available for subscribers, including detailed insights on the company's financial health and growth prospects.
In other recent news, Expensify Inc reported a mixed Q3 performance with total revenue for the quarter rising by 6.3% quarter-over-quarter to reach $35.4 million, despite a year-over-year decrease of 3%. The company's average paid members remained constant at 684,000, marking a 5% decrease from the previous year. A significant development was the 48% year-over-year surge in interchange revenue from the Expensify Card, totaling $4.6 million. The company notably revised its free cash flow guidance for the year upward, now expecting between $19 million and $20 million. This revision reflects optimism in the firm's operational efficiencies and new product offerings. The Expensify Card program has successfully migrated 94% of existing card spend and is anticipated to drive future revenue growth. JMP Securities adjusted its rating on Expensify Inc stock, moving from Market Outperform to Market Perform following a significant surge in the company's stock price. These are the most recent developments for Expensify.
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