PORTLAND, Ore.—Vidal Daniel, a director at Expensify , Inc. (NASDAQ:EXFY), recently reported several transactions involving the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Daniel sold shares worth approximately $17,096 over two days. The sales took place on December 16 and 17, with prices ranging from $3.82 to $3.84 per share. These transactions come as the company's stock has shown remarkable momentum, with InvestingPro data showing a 200% surge over the past six months, despite current market volatility.
In addition to the sales, Daniel acquired a significant number of shares through various transactions. On December 15, he acquired 2,825 shares through the settlement of vested restricted stock units. The following day, he participated in Expensify's 2021 Stock Purchase and Matching Plan, acquiring 11,224 shares at $3.95 each and an additional 9,383 shares granted as matched shares at no cost. According to InvestingPro analysis, the company currently appears undervalued, with analysts setting price targets ranging from $2 to $5 per share.
After these transactions, Daniel's direct ownership of Expensify stock stands at 231,781 shares. For deeper insights into Expensify's valuation and 12+ additional ProTips, including detailed financial health metrics, visit InvestingPro.
In other recent news, financial services company Expensify has 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%. A significant development was the 48% year-over-year surge in interchange revenue from the Expensify Card, totaling $4.6 million. However, average paid members remained steady at 684,000, marking a 5% decrease from the previous year. Expensify also revised its free cash flow guidance for the year upward, now expecting between $19 million and $20 million, reflecting optimism in the firm's operational efficiencies and new product offerings.
In the same vein, JMP Securities adjusted its rating on Expensify stock, moving from Market Outperform to Market Perform, following a significant surge in the company's stock price that has notably outpaced broader market indices. The decision to downgrade the stock rating was primarily based on the stock's recent price movements and its comparison with broader market trends. These are the most recent developments for Expensify, following a series of virtual investor meetings that included the company's CFO & Board Member Ryan Schaffer and Head of Investor Relations Nick Tooker.
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