Expensify, Inc. (NASDAQ:EXFY) director Daniel Vidal recently sold shares of the company's stock, according to the latest SEC filings. On March 15, Vidal sold a total of 20,000 shares of Class A Common Stock at an average price of $2.00 per share, netting a total of $40,000 from the sale.
The transactions were carried out through a series of multiple sales at prices ranging from $1.95 to $2.05. Following the sale, Vidal's direct holdings in the company stock amounted to 129,727 shares.
The filing indicated that the sales were conducted in accordance with a prearranged Rule 10b5-1 trading plan, which was adopted by Vidal on September 14, 2022, and subsequently amended on December 15, 2023. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing a defense against potential accusations of trading on nonpublic, material information.
Investors and Expensify security holders interested in the specifics of the transaction prices within the reported range can request detailed information from the company or Daniel Vidal.
This recent transaction provides insight into the trading activities of Expensify's insiders and may be of interest to current and potential investors monitoring the company's stock movements.
InvestingPro Insights
As investors digest the news of Expensify, Inc. (NASDAQ:EXFY) director Daniel Vidal's recent stock sale, it's important to consider the company's financial health and market performance. According to InvestingPro data, Expensify currently holds a market capitalization of $155.93 million. Despite challenges reflected in its negative P/E ratio of -4.38, the company's gross profit margin stands strong at 55.61% for the last twelve months as of Q4 2023.
InvestingPro Tips for Expensify suggest that the company is in a relatively strong liquidity position, holding more cash than debt on its balance sheet and having liquid assets that exceed short-term obligations. These factors could provide some reassurance to investors concerned about the insider selling. However, it's also notable that the stock has experienced significant volatility, with a price total return of -76.47% over the last year and a -16.98% return just in the past week.
For those considering adding Expensify to their portfolios, the InvestingPro platform offers a total of 12 additional InvestingPro Tips to help make informed decisions. Interested readers can explore these further insights by visiting the dedicated Expensify page on Investing.com. To enhance your research capabilities, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of data and analysis to navigate market uncertainties.
With the next earnings date approaching on May 8, 2024, and analysts predicting the company will become profitable this year, potential investors should keep a close eye on Expensify's performance in the coming quarter.
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