Expensify, Inc. (NASDAQ:EXFY) CEO David Barrett has recently sold shares of the company's Class A Common Stock, totaling approximately $74,643. The transactions occurred over several days, with sales prices ranging from $1.57 to $1.68 per share.
According to the latest filings, Barrett executed sales on three separate dates. On April 18, 2024, he sold 15,000 shares at an average price of $1.66. This was followed by the sale of 15,800 shares on April 19 at an average price of $1.57. Finally, on April 22, Barrett sold 14,844 shares at an average price of $1.68.
The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. This plan had been adopted by Barrett on December 15, 2023.
Following these transactions, Barrett's direct and indirect ownership in Expensify includes 1,086,605 shares held indirectly through Barrett Trust LLC, as well as 133,668 shares held directly.
Investors and followers of Expensify's stock movements can request detailed information about the sales transactions, including the number of shares sold at each price point within the reported ranges, as noted in the footnotes of the filing.
InvestingPro Insights
As Expensify's CEO David Barrett adjusts his stake in the company, investors are closely monitoring the financial health and market performance of Expensify, Inc. (NASDAQ:EXFY). InvestingPro provides a snapshot of the company's recent financial metrics and stock performance to offer a broader context for these insider transactions.
The market has observed a notable uptick in the company's share price over the past week, with a 14.69% return, indicating a significant rebound. This aligns with one of the InvestingPro Tips, which highlights Expensify's significant return over the last week. The company's market capitalization stands at $139.74 million, reflecting its current valuation in the market.
On the financial front, Expensify's revenue for the last twelve months as of Q4 2023 was reported at $150.69 million. Despite this, the company experienced a revenue decline of -11.1% during the same period. The gross profit margin remains strong at 55.61%, which could be a point of interest for investors considering the company's ability to maintain profitability on its core operations.
InvestingPro also notes that Expensify does not pay a dividend, which could influence investment decisions for those seeking regular income from their stock holdings. For investors looking for more in-depth analysis and additional InvestingPro Tips, including whether analysts predict the company will be profitable this year, they can explore further by visiting https://www.investing.com/pro/EXFY. There are 9 additional tips available on InvestingPro, offering a comprehensive understanding of Expensify's financial position and future prospects.
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