Expensify, Inc. (NASDAQ:EXFY) director Daniel Vidal engaged in a series of transactions involving the company's Class A Common Stock, according to a recent SEC filing. On March 15 and March 20, Vidal sold a total of 2,978 shares at prices ranging from $1.91 to $2.00, netting a total of $5,799.
In addition to the sales, the filing revealed that Vidal acquired 20,359 shares through various means, with 17,000 shares purchased at $2.07 each, totaling $35,190. Another set of 4,359 shares was granted as matched shares, with no cost reported, as part of Expensify's 2021 Stock Purchase and Matching Plan (SPMP).
The sales on March 15 and March 20 were part of tax-related transactions. Specifically, the March 15 sale of 1,242 shares at an average price of $2.00 was to cover taxes for shares granted as matched shares under the SPMP for certain employees of Expensify. The March 20 sale of 1,736 shares at an average price of $1.91 was similarly aimed at covering taxes upon the vesting of restricted stock units (RSUs) for certain employees.
Vidal's transactions also included the settlement of vested RSUs into Class A Common Stock, and the conversion of LT50 Common Stock into Class A Common Stock, both of which were reported with a transaction price of $0.
Following these transactions, Vidal's ownership in Expensify, Inc. has been adjusted, with the filing detailing the updated amount of shares held after each transaction. The filing also notes that certain shares are deposited into the Expensify Voting Trust, over which Vidal retains investment control and dispositive power.
Investors often look to insider trading patterns as an indicator of company health and executive confidence. Daniel Vidal's recent activities provide insights into the current standing of Expensify, Inc., as the company continues to navigate the market.
InvestingPro Insights
Expensify, Inc. (NASDAQ:EXFY) has seen its stock price undergo significant fluctuations, reflecting the company's current market position. As of the last check, Expensify holds a market capitalization of approximately $152.52 million. Despite the challenges faced, the company's balance sheet shows resilience with more cash than debt, indicating a stable financial footing. This is a crucial factor for investors considering the financial health of a company, especially in uncertain market conditions.
InvestingPro Data highlights that Expensify's P/E ratio stands at -4.38, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -3.78. This negative P/E ratio suggests that the company has not been profitable over the last year. However, analysts predict that the company will turn profitable this year, which could be a turning point for investor sentiment. The company's price/book ratio is 1.56, which may provide a measure of the stock's valuation in relation to its net asset value.
InvestingPro Tips indicate that Expensify's stock price movements are quite volatile, with a 76.2% drop in the one-year price total return as of the recent date in 2024. This volatility is an essential consideration for potential investors looking for stability or those willing to take on more risk for potentially higher rewards. Additionally, it's worth noting that Expensify does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income streams from their investments.
For investors interested in a deeper analysis and more InvestingPro Tips, Expensify's detailed financials and additional insights are available on Investing.com. Currently, there are 9 additional tips listed on InvestingPro for Expensify, which could further inform investment decisions. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive understanding of Expensify's market prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.