Expensify And 2 Other Penny Stocks Insiders Are Buying

The Dow Jones index closed higher by over 400 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.

Expensify

• The Trade: Expensify, Inc. EXFY 10% owner SF Roofdeck GP LLC bought a total of 123,217 shares at an average price of $1.45. To acquire these shares, it cost around $178,665.
• What's Happening: On June 14, JMP Securities analyst Joe Goodwin reiterated Expensify with a Market Perform.
• What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money.

Cyanotech

• The Trade: Cyanotech Corporation CYAN Director Michael A / Davis acquired a total of 10,000 shares at an average price of $0.36. To acquire these shares, it cost around $3,550.
• What's Happening: On June 26, Cyanotech reported net sales of $23,071,000 for fiscal 2024 compared to $23,178,000 in fiscal 2023.
• What Cyanotech Does: Cyanotech Corp is engaged in the production of natural products derived from microalgae for the nutritional supplements market.

Douglas Elliman

• The Trade: Douglas Elliman Inc DOUG Director, Chairman, President & CEO Howard M Lorber acquired a total of 100,000 shares at an average price of $1.15. The insider spent around $114,563 to buy those shares. The company's Director Mark Zeitchick also bought 112,750 shares of the company.
• What's Happening: On July 2, Douglas Elliman announced that it secured a $50 million growth investment from Kennedy Lewis Investment Management.
• What Douglas Elliman Does: Douglas Elliman Inc is a real estate company. It offers sales, rentals, and new development to mortgages and title insurance, among other services related to real estate.

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