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David Michael Barrett, Chief Executive Officer of Expensify , Inc. (NASDAQ:EXFY), recently sold 30,093 shares of the company’s Class A Common Stock. The transaction, which took place on February 21, 2025, was part of a pre-established Rule 10b5-1 trading plan. The sale comes as the stock has experienced significant volatility, with a -10.44% decline over the past week despite a strong 76% gain over the last year. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The shares were sold at a weighted average price of $3.32, with individual sale prices ranging from $3.25 to $3.48. Following this sale, Barrett retains direct ownership of 185,289 shares and indirect ownership of 1,917,279 shares through Barrett Trust LLC. This sale amounted to a total value of $99,908. With Expensify’s market capitalization at $341.62 million and its upcoming earnings report scheduled for February 27, 2025, InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional ProTips to better understand the company’s financial position.
In other recent news, JMP Securities has downgraded Expensify Inc from a Market Outperform to a Market Perform rating. This adjustment follows a significant surge in Expensify’s stock price, which has exceeded JMP Securities’ previous price target of $3.25. The stock’s performance has been notable, with a year-to-date increase of 38%, surpassing the Russell 3000 index’s 25% rise. Since August 9, Expensify’s stock has jumped 94%, compared to a 13% gain in the Russell 3000 during the same period. The downgrade reflects the company’s current valuation meeting JMP Securities’ benchmarks. The decision was made after virtual investor meetings with Expensify’s CFO and Head of Investor Relations, highlighting the company’s strong market performance. JMP Securities’ decision to downgrade does not include additional insights into Expensify’s financial health or future outlook.
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