Jason Fahr Mills, a director at Expensify , Inc. (NASDAQ:EXFY), recently sold 3,357 shares of the company's Class A Common Stock. The shares were sold on December 6 at a weighted average price of $3.65, amounting to a total transaction value of $12,253. According to InvestingPro data, EXFY has shown remarkable momentum with a 154% price return over the past six months, trading near its 52-week high of $3.70. This sale was conducted to cover taxes for shares awarded under Expensify's 2021 Stock Purchase and Matching Plan. Following the transaction, Mills holds 328,634 shares directly.
In a related transaction on December 5, Mills acquired 13,459 shares as part of the company's stock purchase plan, though this acquisition did not involve any monetary exchange.
In other recent news, Expensify Inc has experienced a mixed bag of developments. JMP Securities recently downgraded the firm's stock rating from Market Outperform to Market Perform, following a significant surge in the company's stock price. This decision came after Expensify's stock value exceeded JMP Securities' previous price target of $3.25.
On the earnings front, Expensify's Q3 performance showed a quarter-over-quarter increase in total revenue by 6.3%, reaching $35.4 million. Despite a year-over-year decrease of 3%, the company witnessed a significant 48% year-over-year surge in interchange revenue from the Expensify Card, totaling $4.6 million. The average paid members remained constant at 684,000, marking a 5% decrease from the previous year.
In an optimistic move, Expensify revised its free cash flow guidance for the year upward, now projecting between $19 million and $20 million. This revision indicates confidence in the firm's operational efficiencies and new product offerings. These are the most recent developments for Expensify.
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