Expensify, Inc. (NASDAQ:EXFY) has filed an SEC Form 4 report detailing recent stock transactions by Chief Operating Officer Anuradha Muralidharan. The report, which covers activities dated March 15, 2024, shows a mixture of acquired and disposed shares in the company.
According to the document, Muralidharan engaged in the sale of Class A Common Stock on two separate dates. On March 15, she sold 608 shares at a weighted average price range between $1.94 and $2.04, resulting in a total sale value of approximately $1,216 to $1,242. Additionally, on March 20, another 2,816 shares were sold at a weighted average price ranging from $1.87 to $1.93, totaling around $5,378 to $5,435. The total value of the shares sold by Muralidharan amounts to over $6,594.
The transactions on March 15 were part of a tax-related sale to cover obligations for shares granted under the company's 2021 Stock Purchase and Matching Plan (SPMP). The sales on March 20 were also related to tax obligations upon the vesting of restricted stock units (RSUs) for certain employees.
Moreover, the Form 4 filing indicates that Muralidharan acquired 1,435 shares of Class A Common Stock on March 15 as matched shares pursuant to the SPMP, at no cost. These acquisitions did not impact the total sale value reported.
Investors and followers of Expensify, Inc. can note that the COO now holds a post-transaction amount of 58,259 shares in non-derivative securities following these transactions. The report also includes derivative transactions involving restricted stock units, but these did not contribute to the total sale value.
For those interested in the finer details of the transactions, the SEC filing includes footnotes that provide additional context, such as the nature of the RSUs and the conditions for their conversion into Class A Common Stock.
The reported transactions reflect the ongoing financial activities of Expensify's executives and provide insights into stock movements that may be of interest to current and potential investors.
InvestingPro Insights
As Expensify, Inc. (NASDAQ:EXFY) navigates through its financial journey, recent market data from InvestingPro provides a broader context for evaluating the company's current position. With a market capitalization of $152.52 million, investors might note the company's valuation in light of its recent executive stock transactions. Despite a challenging environment evidenced by a negative revenue growth of -11.1% over the last twelve months as of Q1 2023, Expensify maintains a strong gross profit margin of 55.61%, indicating its ability to retain over half of its revenue as gross profit.
InvestingPro Tips suggest that while Expensify holds more cash than debt on its balance sheet, signaling a potential for financial stability, the stock price has experienced significant volatility. The price has fallen by 76.2% over the past year, reflecting investor sentiment and market conditions. Furthermore, analysts predict that the company will turn profitable this year, which could be a pivotal point for investors monitoring the stock.
For investors seeking deeper insights and additional InvestingPro Tips, there are 9 more tips available at Investing.com/pro/EXFY. These tips could further inform investment decisions, especially in light of the COO's recent stock transactions. Interested readers can take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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